General Electric (NYSE:GE) - Stock analysts at Jefferies Financial Group issued their FY2021 earnings per share (EPS) estimates for General Electric in a note issued to investors on Tuesday, November 23rd. Jefferies Financial Group analyst S. Boroditsky forecasts that the conglomerate will post earnings per share of $2.10 for the year. Jefferies Financial Group has a "Hold" rating and a $100.00 price objective on the stock. Jefferies Financial Group also issued estimates for General Electric's Q4 2021 earnings at $0.91 EPS, Q1 2022 earnings at $0.70 EPS, Q2 2022 earnings at $0.75 EPS, Q3 2022 earnings at $1.12 EPS, Q4 2022 earnings at $1.64 EPS, FY2022 earnings at $4.21 EPS, Q1 2023 earnings at $1.10 EPS, Q2 2023 earnings at $1.17 EPS, Q3 2023 earnings at $1.53 EPS, FY2023 earnings at $5.87 EPS and FY2024 earnings at $6.59 EPS.
Several other analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of General Electric from $127.00 to $130.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 10th. Wells Fargo & Company upped their price objective on shares of General Electric from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 10th. TheStreet upgraded shares of General Electric from a "d+" rating to a "c" rating in a research report on Wednesday, October 20th. Deutsche Bank Aktiengesellschaft upgraded General Electric from a "hold" rating to a "buy" rating and boosted their target price for the stock from $119.00 to $131.00 in a research report on Tuesday, November 9th. Finally, Citigroup restated a "buy" rating and set a $136.00 target price on shares of General Electric in a research report on Wednesday, August 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $122.18.
Shares of General Electric stock opened at $102.23 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $112.26 billion, a price-to-earnings ratio of -196.60, a P/E/G ratio of 9.35 and a beta of 1.03. General Electric has a 1-year low of $79.68 and a 1-year high of $116.17. The firm's 50-day moving average price is $104.27 and its two-hundred day moving average price is $104.77. General Electric (NYSE:GE) last posted its earnings results on Monday, October 25th. The conglomerate reported $0.57 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.43 by $0.14. The business had revenue of $18.43 billion for the quarter, compared to analysts' expectations of $19.17 billion. General Electric had a negative net margin of 0.05% and a positive return on equity of 5.88%. The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 25th. Stockholders of record on Monday, September 27th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 24th. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. General Electric's dividend payout ratio is currently -61.54%.
In other news, Director Leslie Seidman acquired 1,000 shares of General Electric stock in a transaction dated Monday, November 22nd. The stock was bought at an average cost of $100.59 per share, with a total value of $100,590.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 2,051 shares of company stock valued at $210,673 over the last ninety days. 0.71% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in General Electric by 6.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 812,250,073 shares of the conglomerate's stock valued at $10,932,886,000 after buying an additional 51,786,710 shares during the period. Vanguard Group Inc. lifted its holdings in General Electric by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 656,629,072 shares of the conglomerate's stock worth $8,838,227,000 after purchasing an additional 4,633,131 shares during the last quarter. Geode Capital Management LLC boosted its stake in General Electric by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 135,338,758 shares of the conglomerate's stock valued at $1,815,863,000 after purchasing an additional 4,669,566 shares during the period. Legal & General Group Plc increased its position in General Electric by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 57,691,528 shares of the conglomerate's stock worth $776,527,000 after buying an additional 2,343,743 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of General Electric by 0.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 45,391,525 shares of the conglomerate's stock valued at $610,970,000 after acquiring an additional 210,526 shares during the period.
About General Electric
General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.
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