Sanford C. Bernstein reaffirmed their market perform rating on shares of General Electric Co. (NYSE:GE) in a research note released on Wednesday morning. Sanford C. Bernstein currently has a $34.00 target price on the stock.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus set a $31.00 price objective on shares of General Electric and gave the company a buy rating in a research note on Wednesday. RBC Capital Markets set a $36.00 price objective on shares of General Electric and gave the company a buy rating in a research note on Tuesday. Vetr raised shares of General Electric from a buy rating to a strong-buy rating and set a $32.35 price target on the stock in a research note on Monday. Citigroup Inc. lowered their price target on shares of General Electric from $36.00 to $35.00 and set a buy rating on the stock in a research note on Monday. Finally, Bank of America Corp. reaffirmed a buy rating and set a $37.00 price target on shares of General Electric in a research note on Thursday, October 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $32.79.

General Electric (NYSE:GE) traded down 0.69% during midday trading on Wednesday, reaching $28.70. 4,588,934 shares of the company traded hands. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00. The firm has a market capitalization of $257.19 billion, a PE ratio of 24.26 and a beta of 1.15. The company’s 50-day moving average price is $30.11 and its 200 day moving average price is $30.72.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 had revenue of $33.49 million for 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%. General Electric’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, equities analysts anticipate that General Electric will post $1.50 earnings per share for the current year.

The business 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 $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. General Electric’s dividend payout ratio is currently 77.97%.

In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased 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 of the company’s stock, valued at approximately $69,148,737.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Cable Hill Partners LLC raised its stake in shares of 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. Horizon Investments LLC raised its stake in shares of General Electric by 0.5% in the second quarter. Horizon Investments LLC now owns 7,832 shares of the company’s stock worth $247,000 after buying an additional 36 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock worth $274,000 after buying an additional 46 shares during the last quarter. Barry Investment Advisors LLC raised its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the last quarter. Finally, Allegis Investment Advisors LLC raised its stake in shares of General Electric by 0.5% in the second quarter. Allegis Investment Advisors LLC now owns 11,430 shares of the company’s stock worth $349,000 after buying an additional 59 shares during the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.

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