General Electric Company (NYSE:GE) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, October 30th. The firm currently has a $23.28 price target on the conglomerate’s stock. Vetr‘s price objective indicates a potential upside of 13.62% from the company’s current price.
GE has been the topic of a number of other reports. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $22.00 price objective (down from $27.00) on shares of General Electric in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a research note on Friday, July 7th. Citigroup Inc. restated a “buy” rating and set a $34.00 price target (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $25.55.
Shares of General Electric (NYSE:GE) traded up $0.50 during trading on Monday, hitting $20.49. The company had a trading volume of 100,732,305 shares, compared to its average volume of 41,251,555. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric has a 1 year low of $19.63 and a 1 year high of $32.38. The stock has a market cap of $173,354.97, a price-to-earnings ratio of 16.12, a PEG ratio of 2.09 and a beta of 1.11.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the firm posted $0.32 earnings per share. General Electric’s quarterly revenue was up 11.5% on a year-over-year basis. sell-side analysts anticipate that General Electric will post 1.06 earnings per share for the current fiscal year.
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In other General Electric news, Director James S. Tisch bought 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.36% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Peak Financial Management Inc. raised its holdings in shares of General Electric by 0.3% during the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after acquiring an additional 25 shares during the period. BerganKDV Wealth Management LLC raised its holdings in shares of General Electric by 0.3% during the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after acquiring an additional 36 shares during the period. Puplava Financial Services Inc. raised its holdings in shares of General Electric by 0.4% during the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after acquiring an additional 41 shares during the period. Cutter & CO Brokerage Inc. raised its holdings in shares of General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after acquiring an additional 67 shares during the period. Finally, Northwest Wealth Management LLC raised its holdings in shares of General Electric by 0.8% during the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after acquiring an additional 75 shares during the period. 54.38% of the stock is owned by institutional investors and hedge funds.
About General Electric
To view Vetr’s full report, visit Vetr’s official website.
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