ValuEngine Lowers General Electric (NYSE:GE) to Sell

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ValuEngine lowered shares of General Electric (NYSE:GE) from a hold rating to a sell rating in a report issued on Friday, ValuEngine reports.

Other analysts have also recently issued research reports about the stock. Deutsche Bank set a $10.00 price target on shares of General Electric and gave the company a hold rating in a report on Thursday, May 2nd. Citigroup set a $14.00 price target on shares of General Electric and gave the company a buy rating in a report on Wednesday, June 19th. Cowen reiterated a hold rating and issued a $8.00 price target on shares of General Electric in a report on Wednesday, May 1st. Zacks Investment Research cut 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 report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reissued 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 stock currently has an average rating of Hold and a consensus target price of $11.68.

NYSE:GE opened at $8.79 on Friday. The stock has a market cap of $69.90 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.73 and a beta of 1.03. The firm’s fifty day simple moving average is $10.05 and its 200 day simple moving average is $9.97. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65.

General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, analysts expect that General Electric will post 0.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, June 28th. General Electric’s dividend payout ratio is currently 6.15%.

In related news, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $9.04 per share, with a total value of $2,998,423.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman H Lawrence Culp, Jr. purchased 252,200 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $7.93 per share, with a total value of $1,999,946.00. The disclosure for this purchase can be found here. Insiders have acquired 784,568 shares of company stock valued at $6,815,745 in the last three months. Insiders own 1.13% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashburton Jersey Ltd purchased a new position in shares of General Electric in the 2nd quarter worth about $25,000. Fusion Family Wealth LLC raised its position in General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after buying an additional 2,629 shares during the last quarter. Employers Holdings Inc. purchased a new position in General Electric in the 2nd quarter worth about $28,000. Manchester Financial Inc. purchased a new position in General Electric in the 2nd quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in General Electric in the 2nd quarter worth about $35,000. 58.85% of the stock is owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for General Electric (NYSE:GE)

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