ValuEngine Downgrades General Electric (NYSE:GE) to Sell

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

GE has been the topic of several other reports. Deutsche Bank upped their price target on shares of General Electric from $9.00 to $11.00 in a research note on Thursday, October 31st. Zacks Investment Research upgraded shares of General Electric from a sell rating to a hold rating and set a $10.00 price target for the company in a report on Friday, November 1st. William Blair reiterated a buy rating on shares of General Electric in a research note on Friday, August 16th. Credit Suisse Group reissued a hold rating and set a $10.00 price objective on shares of General Electric in a report on Monday, November 4th. Finally, Barclays restated a buy rating and set a $12.00 target price on shares of General Electric in a research report on Friday, October 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $10.42.

Shares of GE traded up $0.31 during mid-day trading on Tuesday, hitting $11.10. The company’s stock had a trading volume of 50,325,823 shares, compared to its average volume of 71,559,078. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 2.67. General Electric has a 1-year low of $6.66 and a 1-year high of $11.84. The firm has a market capitalization of $96.11 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.74 and a beta of 1.17. The firm has a 50-day simple moving average of $10.55 and a 200 day simple moving average of $9.77.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. General Electric’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, sell-side analysts predict that General Electric will post 0.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, December 23rd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, December 20th. General Electric’s dividend payout ratio is currently 6.15%.

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in General Electric by 26.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock worth $3,838,441,000 after acquiring an additional 76,193,032 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of General Electric in the second quarter valued at about $433,181,000. Renaissance Technologies LLC grew its position in shares of General Electric by 254.9% in the second quarter. Renaissance Technologies LLC now owns 53,270,354 shares of the conglomerate’s stock valued at $559,339,000 after purchasing an additional 38,260,700 shares during the last quarter. BlackRock Inc. grew its position in shares of General Electric by 1.9% in the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after purchasing an additional 9,483,976 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of General Electric by 1.4% in the second quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock valued at $6,805,671,000 after purchasing an additional 8,989,832 shares during the last quarter. Hedge funds and other institutional investors own 60.22% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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