Vetr upgraded shares of General Electric Company (NYSE:GE) from a buy rating to a strong-buy rating in a report issued on Monday morning. Vetr currently has $23.28 price target on the conglomerate’s stock.
Several other research analysts have also recently issued reports on GE. J P Morgan Chase & Co reiterated an underweight rating and issued a $22.00 price objective (down from $27.00) on shares of General Electric in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of General Electric and gave the company a neutral rating in a report on Friday, July 7th. Citigroup Inc. reiterated a buy rating and issued a $34.00 price objective (down from $36.00) on shares of General Electric in a report on Monday, July 10th. Morgan Stanley reiterated an equal weight rating and issued a $27.00 price objective on shares of General Electric in a report on Monday, July 17th. Finally, Cowen and Company reiterated a hold rating and issued a $27.00 price objective on shares of General Electric in a report on Monday, July 17th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $25.84.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.76%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In related news, CEO John Leonard Flannery bought 103,983 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the transaction, the chief executive officer now directly owns 509,430 shares in the company, valued at $13,021,030.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. S&CO Inc. lifted its position in General Electric by 0.8% in the 3rd quarter. S&CO Inc. now owns 415,018 shares of the conglomerate’s stock worth $10,035,000 after buying an additional 3,200 shares in the last quarter. CCM Investment Advisers LLC lifted its position in General Electric by 2,545.0% in the 3rd quarter. CCM Investment Advisers LLC now owns 308,016 shares of the conglomerate’s stock worth $7,447,000 after buying an additional 296,371 shares in the last quarter. West Coast Financial LLC lifted its position in General Electric by 100.1% in the 3rd quarter. West Coast Financial LLC now owns 18,255 shares of the conglomerate’s stock worth $441,000 after buying an additional 9,133 shares in the last quarter. Bishop & Co Investment Management LLC purchased a new stake in General Electric in the 3rd quarter worth approximately $256,000. Finally, One Capital Management LLC lifted its position in General Electric by 3.3% in the 3rd quarter. One Capital Management LLC now owns 116,696 shares of the conglomerate’s stock worth $2,822,000 after buying an additional 3,761 shares in the last quarter. Institutional investors own 54.53% of the company’s stock.
General Electric Company Profile
To view Vetr’s full report, visit Vetr’s official website.
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