General Electric (NYSE:GE) Shares Set to Reverse Split on Monday, August 2nd

Saturday, July 17, 2021 | MarketBeat

General Electric (NYSE:GE) shares are scheduled to reverse split before the market opens on Monday, August 2nd. The 1-8 reverse split was announced on Monday, August 2nd. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 2nd.

Shares of GE stock opened at $12.55 on Friday. The business'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-to-equity 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-to-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 earnings results on Monday, April 26th. The conglomerate reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $17.12 billion for the quarter, compared to analyst estimates of $17.66 billion. General Electric had a positive return on equity of 1.53% and a negative net margin of 4.33%. The business's revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, equities research analysts anticipate that General Electric will post 0.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 26th. Investors of record on Monday, June 28th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, June 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. General Electric's payout ratio is 400.00%.

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of General Electric from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 19th. UBS Group raised their price objective on General Electric from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, April 9th. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $15.00 to $14.00 and set a "hold" rating for the company in a report on Wednesday. started coverage on General Electric in a research note on Friday, May 14th. They set a "buy" rating and a $17.00 price target on the stock. Finally, Citigroup assumed coverage on General Electric in a report on Friday, May 14th. They issued a "buy" rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given 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 added to or reduced their stakes in the company. National Pension Service boosted its position in shares of General Electric by 0.8% in the 4th quarter. National Pension Service now owns 10,533,091 shares of the conglomerate's stock worth $113,757,000 after purchasing an additional 85,935 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of General Electric during the first quarter worth about $3,134,000. Trustco Bank Corp N Y increased its holdings in shares of General Electric by 4.5% during the fourth quarter. Trustco Bank Corp N Y now owns 315,049 shares of the conglomerate's stock valued at $3,402,000 after acquiring an additional 13,668 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of General Electric by 10.0% in the 4th quarter. Graham Capital Management L.P. now owns 1,100,000 shares of the conglomerate's stock valued at $11,880,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in General Electric by 21.2% in the 1st quarter. Neuberger Berman Group LLC now owns 9,075,035 shares of the conglomerate's stock worth $118,914,000 after purchasing an additional 1,586,189 shares in the last quarter. Institutional investors and hedge funds own 63.34% of the company's stock.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to 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 technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

Read More: Why Invest in Dividend Achievers?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in General Electric right now?

Before you consider General Electric, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Electric wasn't on the list.

While General Electric currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.