General Electric Company (GE) Downgraded by Vetr Inc. to “Buy”
General Electric Company (NYSE:GE) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They presently have a $25.63 price target on the conglomerate’s stock. Vetr‘s target price indicates a potential upside of 6.30% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Deutsche Bank AG reaffirmed a “sell” rating and set a $21.00 target price (down previously from $24.00) on shares of General Electric in a research note on Monday. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $22.00 target price on shares of General Electric in a research note on Thursday, September 7th. Cowen and Company reaffirmed a “hold” rating and set a $24.00 target price on shares of General Electric in a research note on Monday, August 7th. UBS AG reaffirmed a “buy” rating and set a $31.00 target price (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus lowered their target price on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.65.
General Electric (NYSE:GE) traded up 0.84% on Wednesday, reaching $24.11. 38,500,980 shares of the company traded hands. The firm has a 50 day moving average price of $24.94 and a 200 day moving average price of $27.67. The stock has a market capitalization of $208.74 billion, a price-to-earnings ratio of 29.37 and a beta of 1.22. General Electric has a 52-week low of $23.58 and a 52-week high of $32.38.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that General Electric will post $1.56 EPS for the current year.
In related news, Director James S. Tisch purchased 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Leonard Flannery purchased 103,983 shares of the 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 completion of the transaction, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in GE. Ullmann Financial Group Inc. bought a new stake in General Electric in the first quarter valued at $106,000. Feltz Wealth PLAN Inc. bought a new stake in General Electric in the first quarter valued at $114,000. Ffcm LLC bought a new stake in General Electric in the second quarter valued at $114,000. PHH Investments Ltd. grew its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the period. Finally, Corbenic Partners LLC grew its position in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares during the period. Hedge funds and other institutional investors own 54.78% of the company’s stock.
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