General Electric Company (NYSE:GE) Rating Reiterated by Citigroup Inc.

Citigroup Inc. restated their buy rating on shares of General Electric Company (NYSE:GE) in a research note published on Monday, July 24th. The firm currently has a $31.00 target price on the conglomerate’s stock, down from their prior target price of $34.00.

Other equities analysts have also recently issued research reports about the company. William Blair restated a buy rating on shares of General Electric in a report on Saturday, April 1st. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the company a sell rating in a report on Monday, July 24th. Vetr lowered General Electric from a buy rating to a hold rating and set a $29.71 target price for the company. in a research report on Monday, June 12th. Morgan Stanley reaffirmed an equal weight rating and set a $27.00 target price on shares of General Electric in a research report on Monday, July 17th. Finally, Argus decreased their target price on General Electric from $36.00 to $33.00 and set a buy rating for the company in a research report on Monday, April 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $30.08.

Shares of General Electric (NYSE:GE) opened at 24.55 on Monday. General Electric has a 1-year low of $24.44 and a 1-year high of $32.38. The firm has a market capitalization of $212.55 billion, a P/E ratio of 29.90 and a beta of 1.21. The stock has a 50 day moving average of $25.95 and a 200-day moving average of $28.34.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the business earned $0.51 EPS. General Electric’s revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that General Electric will post $1.57 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.91%. General Electric’s payout ratio is currently 118.52%.

In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Rohr purchased 27,425 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Insiders have acquired 133,253 shares of company stock valued at $3,404,264 in the last three months. Insiders own 0.36% of the company’s stock.

Several large investors have recently bought and sold shares of GE. Peak Financial Management Inc. boosted its stake in General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after buying an additional 25 shares in the last quarter. BerganKDV Wealth Management LLC boosted its stake in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after buying an additional 36 shares in the last quarter. Puplava Financial Services Inc. raised its position in shares of General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after buying an additional 41 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares during the last quarter. Finally, Northwest Wealth Management LLC raised its position in shares of General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares during the last quarter. 54.31% of the stock is owned by hedge funds and other institutional investors.

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