General Electric Co. (GE) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of General Electric Co. (NYSE:GE) from a buy rating to a strong-buy rating in a research report released on Monday morning. They currently have $32.35 target price on the stock.
A number of other research firms have also issued reports on GE. Standpoint Research started coverage on shares of General Electric in a report on Friday, July 22nd. They set a sell rating and a $26.00 target price on the stock. Zacks Investment Research upgraded shares of General Electric from a sell rating to a hold rating in a report on Wednesday, July 13th. Credit Suisse Group AG reiterated a buy rating on shares of General Electric in a report on Saturday, July 9th. Citigroup Inc. reiterated a buy rating and set a $36.00 target price on shares of General Electric in a report on Monday, July 25th. Finally, Goldman Sachs Group Inc. increased their target price on shares of General Electric from $29.00 to $30.00 and gave the stock a neutral rating in a report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric presently has an average rating of Hold and a consensus target price of $32.78.
Shares of General Electric (NYSE:GE) traded up 0.31% during midday trading on Monday, hitting $28.95. 9,422,310 shares of the stock were exchanged. The company has a market cap of $259.43 billion, a PE ratio of 24.47 and a beta of 1.15. The stock has a 50 day moving average price of $30.25 and a 200-day moving average price of $30.75. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The firm earned $33.49 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. On average, analysts predict that General Electric will post $1.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.19%. General Electric’s dividend payout ratio (DPR) is 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.
Several hedge funds have recently modified their holdings of GE. Canal Capital Management LLC boosted its stake in shares of General Electric by 0.5% in the third quarter. Canal Capital Management LLC now owns 18,501 shares of the company’s stock worth $548,000 after buying an additional 86 shares during the period. Gofen & Glossberg LLC IL boosted its stake in shares of General Electric by 0.3% in the third quarter. Gofen & Glossberg LLC IL now owns 1,887,157 shares of the company’s stock worth $55,898,000 after buying an additional 5,774 shares during the period. City Holding Co. boosted its stake in shares of General Electric by 4.5% in the third quarter. City Holding Co. now owns 124,926 shares of the company’s stock worth $3,699,000 after buying an additional 5,388 shares during the period. Searle & CO. acquired a new stake in shares of General Electric during the third quarter worth $1,010,000. Finally, Capital Asset Advisory Services LLC boosted its stake in shares of General Electric by 3.4% in the third quarter. Capital Asset Advisory Services LLC now owns 10,547 shares of the company’s stock worth $312,000 after buying an additional 350 shares during the period. 55.81% of the stock is currently owned by institutional investors.
General Electric Company Profile
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