Vetr upgraded shares of General Electric Co. (NYSE:GE) from a hold rating to a buy rating in a report released on Monday. The brokerage currently has $30.83 target price on the stock.

Analyst Recommendations for General Electric (NYSE:GE)

A number of other research firms have also issued reports on GE. Standpoint Research assumed coverage on General Electric in a report on Friday, July 22nd. They issued a sell rating and a $26.00 target price on the stock. Zacks Investment Research raised General Electric from a sell rating to a hold rating in a report on Wednesday, July 13th. Credit Suisse Group AG reissued a buy rating on shares of General Electric in a report on Saturday, July 9th. Citigroup Inc. reissued a buy rating and issued a $36.00 target price on shares of General Electric in a report on Monday, July 25th. Finally, Goldman Sachs Group Inc. boosted their target price on General Electric from $29.00 to $30.00 and gave the company a neutral rating in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $32.64.

General Electric (NYSE:GE) opened at 30.04 on Monday. The company has a 50-day moving average price of $30.85 and a 200 day moving average price of $30.83. General Electric has a 1-year low of $24.26 and a 1-year high of $33.00. The firm has a market capitalization of $269.20 billion, a P/E ratio of 25.39 and a beta of 1.11.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analyst estimates 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 was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Analysts expect that General Electric will post $1.51 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a 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 on Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

A number of large investors have recently made changes to their positions in GE. Cable Hill Partners LLC raised its stake 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 valued at $141,000 after buying an additional 19 shares in the last quarter. Horizon Investments LLC raised its stake in shares of General Electric by 0.5% in the second quarter. Horizon Investments LLC now owns 7,832 shares of the company’s stock valued at $247,000 after buying an additional 36 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock valued at $274,000 after buying an additional 46 shares in the last quarter. Barry Investment Advisors LLC raised its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock valued at $216,000 after buying an additional 50 shares in the last quarter. Finally, Allegis Investment Advisors LLC raised its stake in shares of General Electric by 0.5% in the second quarter. Allegis Investment Advisors LLC now owns 11,430 shares of the company’s stock valued at $349,000 after buying an additional 59 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.

General Electric Company Profile

5 Day Chart for NYSE:GE

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

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