General Electric Company (GE) was Initiated by Standpoint Research to “Sell” and the brokerage firm has set the Price Target at $26. Standpoint Research advised their investors in a research report released on Jul 22, 2016.
Many Wall Street Analysts have commented on General Electric Company. Cowen Initiated General Electric Company on Jun 7, 2016 to “Market Perform”, Price Target of the shares are set at $29.General Electric Company was Resumed by JP Morgan to “Underweight” on May 12, 2016. Company shares were Reiterated by UBS on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .
On the company’s financial health, General Electric Company reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.46. The company had revenue of $33494.00 million for the quarter, compared to analysts expectations of $31573.67 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.
General Electric Company closed down -0.15 points or -0.46% at $32.78 with 3,55,57,794 shares getting traded on Wednesday. Post opening the session at $32.96, the shares hit an intraday low of $32.7 and an intraday high of $33 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 24, 2016, Jeffrey R Immelt (CEO) purchased 67,600 shares at $29.59 per share price. According to the SEC, on Apr 27, 2016, Alexander Dimitrief (Senior Vice President) purchased 105 shares at $30.51 per share price. On Feb 5, 2016, Jeffrey S Bornstein (Senior Vice President) sold 168,313 shares at $28.87 per share price, according to the Form-4 filing with the securities and exchange commission.
General Electric Company (GE) is a diversified infrastructure and financial services company. The products and services of the Company range from aircraft engines power generation oil and gas production equipment and household appliances to medical imaging business and consumer financing and industrial products. The Company operates its segments through its eight businesses -based on the markets they serve: Power & Water Oil & Gas Energy Management Aviation Healthcare Transportation Appliances and Lighting and GE Capital. GE Capital operates the following businesses: Commercial Lending and Leasing Consumer Real Estate Energy Financial Services and GE Capital Aviation Services. The Company operates in approximately 175 countries.