General Electric Company (GE) Stock Rating Upgraded by Vetr Inc.
General Electric Company (NYSE:GE) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage currently has a $23.28 price objective on the conglomerate’s stock. Vetr‘s target price would indicate a potential upside of 14.06% from the company’s current price.
GE has been the subject of a number of other reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Citigroup Inc. set a $28.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS AG cut shares of General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Finally, Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 24th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.02.
Shares of General Electric (NYSE GE) traded down 1.83% during mid-day trading on Monday, reaching $20.41. 98,385,544 shares of the company’s stock were exchanged. The stock has a market cap of $176.71 billion, a price-to-earnings ratio of 24.86 and a beta of 1.19. The stock’s 50-day moving average is $23.59 and its 200-day moving average is $26.13. General Electric has a 52-week low of $20.26 and a 52-week high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.73% and a net margin of 6.08%. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts expect that General Electric will post $1.10 EPS for the current year.
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In other General Electric news, CEO John Leonard Flannery bought 103,983 shares of the stock in a transaction on Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James S. Tisch bought 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GE. Franklin Resources Inc. raised its stake in General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. BlackRock Inc. raised its stake in General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital Research Global Investors raised its stake in General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Boston Partners raised its stake in General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after acquiring an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in General Electric by 1,011.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after acquiring an additional 13,315,605 shares in the last quarter. 54.53% of the stock is owned by hedge funds and other institutional investors.
About General Electric
To view Vetr’s full report, visit Vetr’s official website.
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