General Electric (GE) Given Sell Rating at JPMorgan Chase & Co.

General Electric (NYSE:GE)‘s stock had its “sell” rating restated by analysts at JPMorgan Chase & Co. in a report released on Friday. They currently have a $11.00 target price on the conglomerate’s stock. JPMorgan Chase & Co.’s target price indicates a potential downside of 13.39% from the stock’s current price.

Several other analysts also recently commented on the company. UBS Group cut their target price on General Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 5th. Morningstar set a $15.70 price target on General Electric and gave the company a “buy” rating in a report on Monday, August 13th. Royal Bank of Canada reissued a “neutral” rating and set a $15.00 price target on shares of General Electric in a report on Wednesday, August 8th. Bank of America lowered their price target on General Electric from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 27th. Finally, Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.99.

Shares of GE opened at $12.70 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39. General Electric has a 12 month low of $11.94 and a 12 month high of $25.21. The firm has a market cap of $109.49 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96.

General Electric (NYSE:GE) last issued its earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The business had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same period last year, the business posted $0.21 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. equities research analysts expect that General Electric will post 0.96 earnings per share for the current year.

In related news, Director H Lawrence Culp, Jr. bought 191,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were bought at an average cost of $13.04 per share, with a total value of $2,490,640.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.12% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Concentric Wealth Management LLC raised its holdings in General Electric by 7.5% during the fourth quarter. Concentric Wealth Management LLC now owns 96,292 shares of the conglomerate’s stock valued at $1,680,000 after acquiring an additional 6,720 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in General Electric by 1.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,862,221 shares of the conglomerate’s stock valued at $433,846,000 after acquiring an additional 335,980 shares during the period. Northwest Capital Management Inc bought a new stake in General Electric during the fourth quarter valued at about $191,000. ING Groep NV raised its holdings in General Electric by 78.8% during the fourth quarter. ING Groep NV now owns 1,047,696 shares of the conglomerate’s stock valued at $18,282,000 after acquiring an additional 461,654 shares during the period. Finally, Mendel Money Management bought a new stake in General Electric during the fourth quarter valued at about $732,000. 53.74% of the stock is currently owned by institutional investors.

About General Electric

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

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Analyst Recommendations for General Electric (NYSE:GE)

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