Vetr upgraded shares of General Electric Co. (NYSE:GE) from a hold rating to a buy rating in a research report released on Monday. The firm currently has $30.83 price objective on the stock.
A number of other analysts have also commented on the company. Zacks Investment Research upgraded General Electric from a hold rating to a buy rating and set a $34.00 price target on the stock in a report on Tuesday, September 13th. William Blair set a $38.00 target price on General Electric and gave the company a buy rating in a research note on Thursday, September 8th. Stifel Nicolaus set a $34.00 target price on General Electric and gave the company a buy rating in a research note on Thursday, September 8th. Morgan Stanley set a $32.00 target price on General Electric and gave the company a hold rating in a research note on Wednesday, August 31st. Finally, Deutsche Bank AG restated a hold rating and issued a $29.00 target price on shares of General Electric in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. General Electric presently has a consensus rating of Hold and an average price target of $32.64.
Shares of General Electric (NYSE:GE) opened at 29.85 on Monday. The company has a market capitalization of $267.49 billion, a P/E ratio of 25.23 and a beta of 1.11. The company’s 50 day moving average price is $30.88 and its 200 day moving average price is $30.84. General Electric has a 12 month low of $24.26 and a 12 month high of $33.00.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Analysts expect that General Electric will post $1.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catamount Wealth Management raised its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the last quarter. Cable Hill Partners LLC raised its position in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the last quarter. Global X Management Co. LLC raised its position in General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock worth $159,000 after buying an additional 1,868 shares during the last quarter. James Investment Research Inc. raised its position in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the last quarter. Finally, Balentine LLC raised its position in General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock worth $187,000 after buying an additional 2,277 shares during the last quarter. 55.81% of the stock is owned by institutional investors and hedge funds.
About General Electric
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