Vetr Inc. Downgrades General Electric Co. (GE) to Hold
General Electric Co. (NYSE:GE) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $31.80 price objective on the stock. Vetr‘s price objective points to a potential upside of 3.41% from the company’s current price.
Several other analysts have also recently weighed in on GE. RBC Capital Markets restated an “outperform” rating and set a $36.00 price target on shares of General Electric in a report on Tuesday, November 1st. Stifel Nicolaus set a $33.00 target price on General Electric and gave the company a “buy” rating in a report on Tuesday, November 1st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $33.00 target price on shares of General Electric in a report on Tuesday, November 1st. William Blair set a $38.00 target price on General Electric and gave the company a “buy” rating in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a report on Friday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.56.
Shares of General Electric (NYSE:GE) opened at 30.75 on Monday. General Electric has a one year low of $27.10 and a one year high of $33.00. The firm has a market capitalization of $272.03 billion, a P/E ratio of 26.44 and a beta of 1.20. The firm’s 50-day moving average is $29.21 and its 200 day moving average is $30.40.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 21st. The company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The company had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $29.64 billion. General Electric had a return on equity of 16.08% and a net margin of 8.93%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. Equities research analysts predict that General Electric will post $1.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 2.99%. General Electric’s payout ratio is 80.00%.
In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $29.24 per share, for a total transaction of $1,462,000.00. Following the purchase, the chairman now owns 2,248,688 shares of the company’s stock, valued at $65,751,637.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Patten & Patten Inc. TN increased its position in General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock valued at $20,170,000 after buying an additional 9,512 shares during the last quarter. Baxter Bros Inc. purchased a new position in General Electric during the second quarter valued at $11,436,000. Howland Capital Management LLC increased its position in General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock valued at $39,526,000 after buying an additional 89,178 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd increased its position in General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock valued at $9,138,000 after buying an additional 3,405 shares during the last quarter. Finally, Cacti Asset Management LLC increased its position in General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock valued at $3,070,000 after buying an additional 1,175 shares during the last quarter. Institutional investors own 55.50% of the company’s stock.
General Electric Company Profile
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