General Electric (NYSE:GE) Lowered to Sell at ValuEngine

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

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reissued a sell rating on shares of General Electric in a report on Wednesday, July 31st. William Blair reissued a buy rating on shares of General Electric in a report on Friday, August 16th. UBS Group downgraded shares of General Electric from a buy rating to a neutral rating and cut their price target for the stock from $13.00 to $11.50 in a report on Monday, July 15th. Deutsche Bank set a $10.00 price target on shares of General Electric and gave the stock a hold rating in a report on Thursday, May 2nd. Finally, Citigroup set a $14.00 price target on shares of General Electric and gave the stock a buy rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. General Electric presently has an average rating of Hold and an average target price of $11.68.

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

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. As a group, research analysts predict that General Electric will post 0.64 earnings per share for the current year.

In other news, Director Thomas W. Horton acquired 55,248 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $9.02 per share, with a total value of $498,336.96. Following the transaction, the director now directly owns 55,248 shares in the company, valued at approximately $498,336.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 794,568 shares of company stock valued at $6,904,045. 1.13% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Stelac Advisory Services LLC increased its stake in General Electric by 21.7% in the fourth quarter. Stelac Advisory Services LLC now owns 73,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 13,000 shares during the period. Parkwood LLC increased its stake in General Electric by 51.4% in the fourth quarter. Parkwood LLC now owns 743,990 shares of the conglomerate’s stock worth $5,632,000 after purchasing an additional 252,461 shares during the period. Point View Wealth Management Inc. increased its stake in General Electric by 54.4% in the fourth quarter. Point View Wealth Management Inc. now owns 167,189 shares of the conglomerate’s stock worth $1,266,000 after purchasing an additional 58,933 shares during the period. Essex Investment Management Co. LLC purchased a new stake in General Electric in the fourth quarter worth $41,000. Finally, Piedmont Investment Advisors Inc. increased its stake in General Electric by 337.6% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 395,046 shares of the conglomerate’s stock worth $2,990,000 after purchasing an additional 304,764 shares during the period. 58.85% of the stock is owned by institutional investors.

General Electric Company Profile

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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