General Electric Co. (GE) Rating Increased to Buy at Vetr Inc.
General Electric Co. (NYSE:GE) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $32.04 target price on the stock. Vetr‘s price objective would indicate a potential upside of 7.23% from the stock’s current price.
A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. set a $28.00 price target on shares of General Electric and gave the stock a “sell” rating in a research note on Friday, September 23rd. Goldman Sachs Group Inc. set a $29.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research note on Monday, June 27th. Royal Bank Of Canada reissued an “outperform” rating on shares of General Electric in a research note on Monday, June 20th. William Blair restated an “outperform” rating and issued a $38.00 price objective on shares of General Electric in a report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.75.
General Electric (NYSE:GE) opened at 29.88 on Monday. The company has a market cap of $267.76 billion, a PE ratio of 25.26 and a beta of 1.11. General Electric has a 52-week low of $24.69 and a 52-week high of $33.00. The firm’s 50 day moving average is $30.72 and its 200 day moving average is $30.83.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. General Electric’s revenue was up 14.6% on a year-over-year basis. Analysts forecast that General Electric will post $1.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.08%. General Electric’s payout ratio is 77.97%.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were purchased at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 575,093,558 shares of the company’s stock valued at $18,103,945,000 after buying an additional 3,276,096 shares during the last quarter. BlackRock Fund Advisors boosted its position in General Electric by 2.3% in the second quarter. BlackRock Fund Advisors now owns 108,746,040 shares of the company’s stock valued at $3,423,325,000 after buying an additional 2,477,059 shares during the last quarter. BlackRock Group LTD boosted its position in General Electric by 0.3% in the second quarter. BlackRock Group LTD now owns 75,537,924 shares of the company’s stock valued at $2,377,934,000 after buying an additional 262,526 shares during the last quarter. Trian Fund Management L.P. boosted its position in General Electric by 0.7% in the second quarter. Trian Fund Management L.P. now owns 74,766,576 shares of the company’s stock valued at $2,353,652,000 after buying an additional 521,321 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in General Electric by 4.6% in the second quarter. Legal & General Group Plc now owns 43,928,772 shares of the company’s stock valued at $1,381,942,000 after buying an additional 1,918,773 shares during the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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