Today: Today, Vetr Inc. Downgraded General Electric Co. (GE) to Buy

Today, Vetr Inc. Downgraded General Electric Co. (GE) to Buy

General Electric Co. (NYSE:GE) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $31.96 price target on the stock. Vetr‘s price target points to a potential upside of 1.65% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Citigroup Inc. set a $34.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, November 1st. Goldman Sachs Group Inc. set a $28.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Friday, September 30th. JPMorgan Chase & Co. set a $28.00 price objective on shares of General Electric and gave the company a “sell” rating in a research note on Friday, September 23rd. Stifel Nicolaus set a $31.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, October 12th. Finally, Morgan Stanley set a $32.00 price objective on shares of General Electric and gave the company a “hold” rating in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $32.56.

General Electric (NYSE:GE) traded up 0.32% during trading on Monday, hitting $31.44. 13,162,239 shares of the stock traded hands. The company’s 50 day moving average price is $29.53 and its 200-day moving average price is $30.43. General Electric has a 52-week low of $27.10 and a 52-week high of $33.00. The stock has a market cap of $278.13 billion, a P/E ratio of 27.03 and a beta of 1.20.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 21st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. General Electric had a net margin of 8.93% and a return on equity of 16.08%. The firm earned $29.30 billion during the quarter, compared to the consensus estimate of $29.64 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. General Electric’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that General Electric will post $1.49 earnings per share for the current fiscal year.

In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average price of $29.24 per share, for a total transaction of $1,462,000.00. Following the completion of the acquisition, the chairman now owns 2,248,688 shares of the company’s stock, valued at approximately $65,751,637.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Catamount Wealth Management raised 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 valued at $110,000 after buying an additional 901 shares during the last quarter. Elefante Mark B acquired a new position in General Electric during the third quarter valued at approximately $116,000. Cable Hill Partners LLC raised 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 valued at $141,000 after buying an additional 19 shares during the last quarter. Global X Management Co. LLC raised 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 valued at $159,000 after buying an additional 1,868 shares during the last quarter. Finally, Timber Creek Capital Management LLC raised its position in General Electric by 175.3% in the third quarter. Timber Creek Capital Management LLC now owns 5,505 shares of the company’s stock valued at $163,000 after buying an additional 3,505 shares during the last quarter. Hedge funds and other institutional investors own 55.46% of the company’s stock.

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