General Electric Co. (GE) Upgraded at Vetr Inc.
General Electric Co. (NYSE:GE) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $32.35 price target on the stock. Vetr‘s price target would indicate a potential upside of 12.09% from the company’s current price.
GE has been the subject of several other reports. Goldman Sachs Group Inc. set a $28.00 target price on shares of General Electric and gave the company a “neutral” rating in a research report on Friday, September 30th. JPMorgan Chase & Co. set a $28.00 target price on shares of General Electric and gave the company a “sell” rating in a research report on Friday, September 23rd. Morgan Stanley set a $32.00 target price on shares of General Electric and gave the company a “hold” rating in a research report on Wednesday, August 31st. Zacks Investment Research lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, Stifel Nicolaus set a $34.00 target price on shares of General Electric and gave the company a “buy” rating in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.78.
General Electric (NYSE:GE) traded down 0.76% on Monday, reaching $28.86. 33,981,885 shares of the company traded hands. The stock has a market capitalization of $258.62 billion, a price-to-earnings ratio of 24.40 and a beta of 1.15. The stock’s 50-day moving average is $30.25 and its 200-day moving average is $30.75. General Electric has a 1-year low of $27.10 and a 1-year high of $33.00.
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General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company earned $33.49 million during the quarter, compared to analyst estimates of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. Equities research analysts expect that General Electric will post $1.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of General Electric stock in a transaction dated Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of 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 SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Several large investors have recently made changes to their positions in GE. Chelsea Counsel Co. increased its stake in shares of General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock valued at $5,280,000 after buying an additional 2,700 shares in the last quarter. Catamount Wealth Management increased its stake in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares in the last quarter. Nexus Investment Management Inc. increased its stake in shares of General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock valued at $21,762,000 after buying an additional 2,600 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock valued at $3,522,000 after buying an additional 672 shares in the last quarter. Finally, First PREMIER Bank increased its stake in shares of General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock valued at $2,332,000 after buying an additional 1,990 shares in the last quarter. 55.81% of the stock is currently owned by institutional investors and hedge funds.
About General Electric
To view Vetr’s full report, visit Vetr’s official website.
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