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Stock Update (NYSE:GE): [$$] GE, Industrial Players Push M&A in IoT

[at] – Wedbush Beyond the information-technology universe, large industrial players have a variety of ambitious goals for their nascent Internet-of-Things (IoT)-enabled businesses, goals which we think will require significant acquisition activity in IoT and related software categories. Manufacturing automation and optimization, equipment monitoring, field service, and smart product development are emerging industrial uses of the IoT, driven by large industrial incumbents such as General Electric (GE) and Siemens (SIEGY) and new entrants such as PTC’s (PTC) ThingWorx. GE has developed a software platform-as-a-service for the industrial Internet, marketed as Predix. Read more on this. General Electric Company (GE) , valued at $289.48B, opened this morning at $30.66. During today’s session, GE traded between $30.65 to $31.50 and has traded between $19.37 and $32.05 over the past year. GE shares are currently priced at 20.37x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.71x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $0.92 per share annually in dividends, yielding 3.09%. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $0.46 per share, which would be $0.15 better than the year-ago quarter and a $0.18 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.50, which would be a $0.19 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $31.26 Billion. If realized, that would be a 6.62% increase over the year-ago quarter. Recently, Cowen Initiated GE at Market Perform (Jun 7, 2016). Previously, Bernstein downgraded GE from Outperform to Mkt Perform. Given all the information above, we should disclose to readers that the average price target is $32.47, which is 5.90% above than it opened this morning. See more in (NYSE:GE) Similar Articles: Company Update (NYSE:GE): EY and GE Digital form alliance in Industrial Internet of Things Stock Update (NYSE:HON): Honeywell Process Solutions’ Digital Transformation Business to Help Customers Benefit From Industrial Internet of Things Market Update (NYSE:GE): GE Global Research Wins 2016 Frost & Sullivan Manufacturing Leadership Award for Role in Founding the Industrial Internet Consortium
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