General Electric Co. (NYSE:GE) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $30.83 target price on the stock. Vetr‘s price objective suggests a potential upside of 3.91% from the stock’s previous close.

Several other brokerages have also commented on GE. Stifel Nicolaus reaffirmed a “buy” rating and issued a $34.00 price objective on shares of General Electric in a report on Monday, June 27th. Citigroup Inc. reaffirmed a “buy” rating on shares of General Electric in a report on Sunday, May 22nd. Bank of America Corp. reaffirmed a “buy” rating on shares of General Electric in a report on Monday, June 6th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Finally, TheStreet raised General Electric from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. General Electric currently has a consensus rating of “Buy” and a consensus price target of $32.64.

Analyst Recommendations for General Electric (NYSE:GE)

Shares of General Electric (NYSE:GE) opened at 29.67 on Monday. The stock has a market cap of $265.88 billion, a PE ratio of 25.08 and a beta of 1.11. General Electric has a 12-month low of $24.26 and a 12-month high of $33.00. The firm has a 50 day moving average price of $30.91 and a 200 day moving average price of $30.84.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders 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 yield of 3.10%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.

In related news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Catamount Wealth Management boosted 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 worth $110,000 after buying an additional 901 shares in the last quarter. Cable Hill Partners LLC boosted 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 worth $141,000 after buying an additional 19 shares in the last quarter. Global X Management Co. LLC boosted 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 worth $159,000 after buying an additional 1,868 shares in the last quarter. James Investment Research Inc. boosted 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 worth $184,000 after buying an additional 150 shares in the last quarter. Finally, Balentine LLC boosted its position in 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. Institutional investors and hedge funds own 55.81% of the company’s stock.

About General Electric

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