General Electric Company (NYSE:GE) had its price target lowered by Argus from $30.00 to $27.00 in a report released on Monday morning. The firm currently has a buy rating on the conglomerate’s stock.

A number of other research analysts have also recently issued reports on the stock. Royal Bank Of Canada reiterated a buy rating and set a $31.00 price objective on shares of General Electric in a report on Friday. Vetr cut shares of General Electric from a strong-buy rating to a buy rating and set a $25.63 price objective for the company. in a report on Wednesday, September 13th. Deutsche Bank AG reiterated a sell rating and set a $21.00 price objective (down from $24.00) on shares of General Electric in a report on Monday, September 11th. J P Morgan Chase & Co reiterated an underweight rating and set a $22.00 price objective on shares of General Electric in a report on Thursday, September 7th. Finally, Cowen and Company reiterated a hold rating and set a $24.00 price objective on shares of General Electric in a report on Monday, August 7th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $28.98.

General Electric (NYSE GE) opened at 24.46 on Monday. The firm has a market capitalization of $211.77 billion, a P/E ratio of 29.79 and a beta of 1.22. General Electric has a 1-year low of $23.58 and a 1-year high of $32.38. The stock’s 50 day moving average is $24.78 and its 200-day moving average is $27.50.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. Analysts forecast that General Electric will post $1.56 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is 118.52%.

In other news, insider Alexander Dimitrief purchased 1,845 shares of the company’s stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, with a total value 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 disclosure for this purchase can be found here. Insiders bought a total of 233,253 shares of company stock valued at $5,860,264 in the last ninety days. 0.36% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Peak Financial Management Inc. boosted its position in General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after buying an additional 25 shares during the period. BerganKDV Wealth Management LLC boosted its position in General Electric by 0.3% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after buying an additional 36 shares during the period. Puplava Financial Services Inc. boosted its position in General Electric by 0.4% during the 2nd quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after buying an additional 41 shares during the period. Cutter & CO Brokerage Inc. boosted its position in General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares during the period. Finally, Northwest Wealth Management LLC boosted its position in General Electric by 0.8% during the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares during the period. 54.71% of the stock is owned by institutional investors and hedge funds.

About General Electric

Analyst Recommendations for General Electric (NYSE:GE)

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