Shares of General Electric Company (NYSE:GE) are trading down $0.29 or 1.01% in the pre-market this morning after the company announced their fourth quarter 2015 earnings.
While the company beat the street on EPS, reporting 52 cents per share verses analyst expectations of 49 cents per share, the market must have been expecting more. Revenue for the quarter came in at $33.9 billion, down significantly from the year prior when General Electric Company (NYSE:GE) reported $42 billion in revenue. It appears that the main culprit in this quarter’s decline is almost solely due to the drastic drop in oil prices over the last 12 months.
The stock increased 2.04% or $0.57 during the last trading session, hitting $28.57. About 1.50M shares traded hands. GE has risen 4.84% since June 17, 2015 and is uptrending. It has outperformed the S&P500 by 13.71%.
From a total of 12 analysts covering General Electric Company (NYSE:GE) stock, 8 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $54 while the lowest target price is $25.84. The mean of all analyst targets is $31.89 which is 11.62% above today’s ($28.57) stock price. General Electric Company was the topic of 21 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on December 23 with a “Buy” rating. William Blair upgraded shares to a”Outperform” rating and a $32 target share price in their report from an October 13. Credit Suisse maintained GE stock in a recent report from November 23 with a “Outperform” rating. Vetr downgraded the rating on September 22. Vetr has a “Hold” rating and a $25.84 price target on shares. Finally, Stifel Nicolaus maintained the stock with a “Buy” rating in a report they issued on an October 19.
The institutional sentiment increased to 0.93 in Q2 2015. It’s up 0.10, from 0.83 in 2015Q2. The ratio is positive, as 80 funds sold all their General Electric Company shares they owned while 815 reduced their positions. 87 funds bought stakes while 744 increased their total positions. Institutions now own 5.63 billion shares which is 2.96% more than the previous share count of 5.47 billion in 2015Q2.
Trian Fund Management L.P. holds 19.5% of its total portfolio in General Electric Company, equating to 90.57 million shares. Trustco Bank Corp N Y owns 416,366 shares representing 11.15% of their total US portfolio. Moreover, Artemis Investment Management Llp has 8.96% of their total portfolio invested in the company, equating to 12.04 million shares. The Utah-based Albion Financial Group Ut has a total of 8.56% of their portfolio invested in the stock. Raiff Partners Inc, a New York-based fund reported 115,000 shares owned.
General Electric Company is a diversified infrastructure and financial services company. The company has a market cap of $282.76 billion. The services and products of the Company range from aircraft engines, power generation, gas and oil production equipment, and household appliances to medical imaging, business and consumer financing and industrial products. It has 92.73 P/E ratio. The Firm operates its divisions through its eight businesses, on the markets they serve: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances, and Lighting and GE Capital.