General Electric Co. (NYSE:GE) received a $28.00 price target from equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday. The firm currently has a a “sell” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential downside of 6.79% from the stock’s previous close.

Several other research firms also recently commented on GE. Cowen and Company began coverage on General Electric in a report on Tuesday, June 7th. They set a “market perform” rating and a $29.00 price objective for the company. Bank of America Corp. restated a “buy” rating on shares of General Electric in a report on Monday, June 6th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $31.34 price objective for the company. in a report on Tuesday, June 7th. Royal Bank Of Canada restated an “outperform” rating on shares of General Electric in a report on Monday, June 20th. Finally, Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $32.74.

Analyst Recommendations for General Electric (NYSE:GE)

General Electric (NYSE:GE) traded down 0.283% during midday trading on Friday, reaching $29.955. The company had a trading volume of 3,889,270 shares. The stock’s 50 day moving average is $30.85 and its 200 day moving average is $30.83. General Electric has a 12-month low of $24.26 and a 12-month high of $33.00. The firm has a market capitalization of $268.43 billion, a price-to-earnings ratio of 25.321 and a beta of 1.11.

General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Equities research analysts expect that General Electric will post $1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.06%. General Electric’s dividend payout ratio is presently 77.97%.

In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of GE. Catamount Wealth Management boosted its position in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares in the last quarter. Cable Hill Partners LLC boosted its position in shares of General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock worth $159,000 after buying an additional 1,868 shares in the last quarter. James Investment Research Inc. boosted its position in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares in the last quarter. Finally, Balentine LLC boosted its position in shares of General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock worth $187,000 after buying an additional 2,277 shares in the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.

About General Electric

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