General Electric Company (GE) Downgraded by Vetr Inc.
GE has been the topic of a number of other reports. Morgan Stanley reiterated an equal weight rating and set a $27.00 price objective on shares of General Electric in a research note on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the company a sell rating in a research note on Tuesday, September 19th. Stifel Nicolaus restated a buy rating on shares of General Electric in a research note on Wednesday, June 14th. Zacks Investment Research downgraded shares of General Electric from a hold rating to a sell rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada restated a buy rating and issued a $31.00 price target on shares of General Electric in a research note on Friday, September 15th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $28.75.
General Electric (NYSE GE) opened at 24.37 on Monday. The company’s 50-day moving average is $24.74 and its 200 day moving average is $27.46. The company has a market capitalization of $210.99 billion, a P/E ratio of 29.68 and a beta of 1.22. General Electric has a one year low of $23.58 and a one year high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. Analysts predict that General Electric will post $1.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 3.94%. General Electric’s payout ratio is 118.52%.
In other news, insider Alexander Dimitrief purchased 1,845 shares of the stock in a transaction on Monday, July 24th. The stock was purchased at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the acquisition, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James S. Tisch purchased 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 233,253 shares of company stock valued at $5,860,264. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric during the 1st quarter worth approximately $106,000. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $113,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric during the 1st quarter worth approximately $114,000. Ffcm LLC acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $114,000. Finally, PHH Investments Ltd. grew its position in shares of General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the period. 54.71% of the stock is owned by institutional investors.
General Electric Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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