Vetr upgraded shares of General Electric Co. (NYSE:GE) from a hold rating to a buy rating in a research note published on Monday morning. The firm currently has $30.83 price objective on the stock.

Analyst Recommendations for General Electric (NYSE:GE)

Several other equities research analysts have also recently weighed in on GE. Credit Suisse Group AG restated a buy rating on shares of General Electric in a research report on Saturday, July 9th. Oppenheimer Holdings Inc. restated a market perform rating on shares of General Electric in a research report on Tuesday, June 28th. Citigroup Inc. restated a buy rating on shares of General Electric in a research report on Sunday, May 22nd. JPMorgan Chase & Co. restated a sell rating on shares of General Electric in a research report on Wednesday, June 29th. Finally, William Blair set a $38.00 price target on shares of General Electric and gave the stock a buy rating in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. General Electric presently has an average rating of Hold and an average target price of $32.64.

General Electric (NYSE:GE) opened at 30.04 on Monday. The company has a market capitalization of $269.20 billion, a price-to-earnings ratio of 25.39 and a beta of 1.11. The firm has a 50-day moving average of $30.85 and a 200 day moving average of $30.83. General Electric has a one year low of $24.26 and a one year high of $33.00.

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

The firm also recently announced 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 of this dividend 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 (DPR) is 77.97%.

In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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

About General Electric

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