ValuEngine Lowers General Electric (NYSE:GE) to Sell

ValuEngine downgraded shares of General Electric (NYSE:GE) from a hold rating to a sell rating in a research note published on Thursday morning, ValuEngine reports.

GE has been the topic of a number of other reports. Cowen reaffirmed a hold rating and set a $8.00 price target on shares of General Electric in a research report on Wednesday, May 1st. Deutsche Bank set a $10.00 price target on shares of General Electric and gave the stock a hold rating in a research report on Thursday, May 2nd. Citigroup set a $14.00 price target on shares of General Electric and gave the stock a buy rating in a research report on Friday, August 16th. Zacks Investment Research lowered shares of General Electric from a strong-buy rating to a hold rating and set a $12.00 price target on the stock. in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reaffirmed a sell rating on shares of General Electric in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $11.68.

Shares of GE opened at $7.97 on Thursday. The firm has a market capitalization of $71.21 billion, a PE ratio of 12.26, a PEG ratio of 1.76 and a beta of 1.03. The company’s 50-day moving average is $9.75 and its 200-day moving average is $9.91. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $13.78. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44.



General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts predict that General Electric will post 0.64 earnings per share for the current fiscal year.

In related news, VP Thomas S. Timko purchased 10,000 shares of General Electric stock in a transaction dated Monday, August 19th. The shares were bought at an average cost of $8.83 per share, for a total transaction of $88,300.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paula Rosput Reynolds purchased 5,000 shares of General Electric stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $9.05 per share, for a total transaction of $45,250.00. Following the completion of the purchase, the director now owns 16,500 shares in the company, valued at approximately $149,325. The disclosure for this purchase can be found here. Insiders have acquired 794,568 shares of company stock worth $6,904,045 over the last quarter. Corporate insiders own 1.13% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its position in General Electric by 1.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 5,799,514 shares of the conglomerate’s stock worth $60,895,000 after buying an additional 77,500 shares during the period. RFG Advisory LLC raised its holdings in General Electric by 20.8% during the 2nd quarter. RFG Advisory LLC now owns 20,608 shares of the conglomerate’s stock worth $216,000 after purchasing an additional 3,553 shares during the last quarter. BlackRock Inc. raised its holdings in General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock worth $5,383,800,000 after purchasing an additional 9,483,976 shares during the last quarter. Natixis raised its holdings in General Electric by 61.2% during the 2nd quarter. Natixis now owns 7,082,821 shares of the conglomerate’s stock worth $74,369,000 after purchasing an additional 2,687,677 shares during the last quarter. Finally, Headinvest LLC raised its holdings in General Electric by 11.1% during the 2nd quarter. Headinvest LLC now owns 46,989 shares of the conglomerate’s stock worth $493,000 after purchasing an additional 4,700 shares during the last quarter. Institutional investors own 58.85% of the company’s stock.

About General Electric

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Analyst Recommendations for General Electric (NYSE:GE)

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