Vetr Inc. Lowers General Electric Company (GE) to Hold

Vetr lowered shares of General Electric Company (NYSE:GE) from a buy rating to a hold rating in a report published on Friday, April 14th. Vetr currently has $30.43 target price on the conglomerate’s stock.

GE has been the topic of a number of other research reports. Barclays PLC set a $36.00 price target on shares of General Electric Company and gave the stock a buy rating in a research note on Thursday, December 15th. Sanford C. Bernstein upgraded shares of General Electric Company from a market perform rating to an outperform rating and lifted their price target for the stock from $33.00 to $40.00 in a research note on Thursday, December 15th. Royal Bank of Canada set a $37.00 price target on shares of General Electric Company and gave the stock a buy rating in a research note on Thursday, December 15th. Daiwa Capital Markets raised General Electric Company from a hold rating to an outperform rating in a report on Friday, December 16th. Finally, Zacks Investment Research cut General Electric Company from a hold rating to a sell rating in a report on Tuesday, December 27th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. General Electric Company currently has a consensus rating of Hold and a consensus target price of $31.73.

Shares of General Electric Company (NYSE:GE) traded up 2.07% during midday trading on Friday, reaching $28.05. 48,406,440 shares of the company traded hands. The company has a 50 day moving average of $29.29 and a 200 day moving average of $30.19. General Electric Company has a 12 month low of $27.10 and a 12 month high of $33.00. The firm has a market capitalization of $243.59 billion, a P/E ratio of 28.56 and a beta of 1.20. General Electric Company also saw some unusual options trading on Thursday. Investors bought 59,914 call options on the stock. This represents an increase of approximately 163% compared to the typical daily volume of 22,743 call options.

General Electric Company (NYSE:GE) last announced its quarterly earnings results on Friday, April 21st. The conglomerate reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. General Electric Company had a return on equity of 15.99% and a net margin of 6.86%. The company had revenue of $27.66 billion for the quarter, compared to the consensus estimate of $26.37 billion. During the same quarter last year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts predict that General Electric Company will post $1.63 earnings per share for the current fiscal year.

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In other General Electric Company news, Director William G. Beattie bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $27.70 per share, with a total value of $110,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marijn E. Dekkers acquired 20,000 shares of General Electric Company stock in a transaction on Monday, April 24th. The stock was purchased at an average cost of $29.90 per share, with a total value of $598,000.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $29,900. The disclosure for this purchase can be found here. Insiders acquired 140,000 shares of company stock valued at $3,964,600 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Barry Investment Advisors LLC boosted its position in shares of General Electric Company by 0.7% in the third quarter. Barry Investment Advisors LLC now owns 6,919 shares of the conglomerate’s stock valued at $205,000 after buying an additional 48 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of General Electric Company by 0.4% in the third quarter. Blue Bell Private Wealth Management LLC now owns 13,809 shares of the conglomerate’s stock valued at $410,000 after buying an additional 58 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its position in shares of General Electric Company by 0.4% in the first quarter. Cutter & CO Brokerage Inc. now owns 20,553 shares of the conglomerate’s stock valued at $613,000 after buying an additional 77 shares during the last quarter. Trillium Asset Management LLC boosted its position in shares of General Electric Company by 0.5% in the third quarter. Trillium Asset Management LLC now owns 17,173 shares of the conglomerate’s stock valued at $509,000 after buying an additional 88 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its position in shares of General Electric Company by 1.1% in the first quarter. Valmark Advisers Inc. now owns 9,659 shares of the conglomerate’s stock valued at $288,000 after buying an additional 102 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.

About General Electric Company

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To view Vetr’s full report, visit Vetr’s official website.

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