Shares of General Electric (NYSE: GE) are expected to be split in half before the market opens on Monday, August 2. The 1-8 reverse split was announced on Monday August 2nd. The number of shares held by shareholders will be adjusted after the closing bell on Monday August 2.
Shares of GE opened at $ 12.55 on Friday. The company’s 50-day simple moving average is $ 13.31. General Electric has a 52-week low of $ 5.93 and a 52-week high of $ 14.41. The company has a debt ratio of 1.90, a current ratio of 1.96, and a quick ratio of 1.68. The company has a market cap of $ 110.17 billion, a price / earnings ratio of -27.28, a P / E / G ratio of 11.72 and a beta of 1.06.
General Electric (NYSE: GE) last released its results on Monday, April 26. The conglomerate reported earnings per share of $ 0.03 for the quarter, beating analyst consensus estimates of $ 0.01 by $ 0.02. The company posted revenue of $ 17.12 billion for the quarter, compared to analyst estimates of $ 17.66 billion. General Electric posted a positive return on equity of 1.53% and a negative net margin of 4.33%. The company’s turnover is down 16.6% compared to the same quarter last year. In the same quarter of last year, the company posted earnings per share of $ 0.05. On average, equity research analysts predict that General Electric will post earnings per share of 0.26 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 26. Investors of record on Monday, June 28 will receive a dividend of $ 0.01 per share. The ex-dividend date is Friday June 25. This represents a dividend of $ 0.04 on an annualized basis and a return of 0.32%. General Electric’s payout ratio is 400.00%.
A number of equity analysts recently commented on the stock. Barclays raised its target price on General Electric shares from $ 15.00 to $ 16.00 and assigned the stock an “overweight” rating in a research report published on Wednesday, May 19. The UBS Group raised its price target on General Electric from $ 15.00 to $ 17.00 and gave the stock a “buy” rating in a report released on Friday, April 9. Deutsche Bank Aktiengesellschaft lowered its price target on General Electric from $ 15.00 to $ 14.00 and set a “hold” rating for the company in a report released Wednesday. began coverage of General Electric in a research note on Friday, May 14. They set a “buy” rating and a target price of $ 17.00 for the stock. Finally, Citigroup assumed cover for General Electric in a report on Friday, May 14. They issued a “buy” rating and a price target of $ 17.00 for the company. A stock research analyst rated the stock with a sell rating, six issued a conservation rating, and nine assigned a buy rating to the company. General Electric currently has a consensus rating of “Buy” and a consensus price target of $ 14.60.
Large investors have recently increased or reduced their stakes in the company. National Pension Service strengthened its position in General Electric shares by 0.8% in the 4th quarter. The National Pension Service now owns 10,533,091 shares of the conglomerate valued at $ 113,757,000 after purchasing an additional 85,935 shares in the last quarter. Axiom Investment Management LLC purchased a new equity stake in General Electric during the first quarter valued at approximately $ 3,134,000. Trustco Bank Corp NY increased its holdings of General Electric shares by 4.5% in the fourth quarter. Trustco Bank Corp NY now owns 315,049 shares of the conglomerate valued at $ 3,402,000 after acquiring an additional 13,668 shares in the last quarter. Graham Capital Management LP increased its position in General Electric shares by 10.0% in the 4th quarter. Graham Capital Management LP now owns 1,100,000 shares of the conglomerate valued at $ 11,880,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in General Electric by 21.2% in the first quarter. Neuberger Berman Group LLC now owns 9,075,035 shares of the conglomerate valued at $ 118,914,000 after purchasing an additional 1,586,189 shares in the last quarter. Institutional investors and hedge funds hold 63.34% of the company’s shares.
General Electric Company Profile
General Electric Company operates as a high-tech industrial enterprise around the world. The Company’s Energy segment offers heavy-duty, aero-derived gas turbines for utilities, independent power producers and industrial applications; maintenance, service and upgrade solutions for plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines and air quality control systems; and advanced reactor technology solutions including reactors, fuels and support services for boiling water reactors.
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