ValuEngine Downgrades General Electric (GE) to Strong Sell

ValuEngine lowered shares of General Electric (NYSE:GE) from a sell rating to a strong sell rating in a report issued on Wednesday morning.

GE has been the topic of a number of other research reports. JPMorgan Chase & Co. set a $11.00 price target on General Electric and gave the company a sell rating in a research report on Monday, July 23rd. Gabelli reaffirmed a buy rating and set a $21.00 price target on shares of General Electric in a research report on Monday, September 24th. Morningstar set a $15.70 price target on General Electric and gave the company a buy rating in a research report on Monday, August 13th. Barclays raised General Electric from an equal weight rating to an overweight rating and set a $16.00 price target on the stock in a research report on Monday, October 8th. Finally, Citigroup dropped their price target on General Electric from $19.00 to $18.00 and set a buy rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $15.50.

Shares of NYSE GE traded up $0.01 during trading on Wednesday, reaching $10.11. 34,651,161 shares of the stock traded hands, compared to its average volume of 110,524,136. General Electric has a 52-week low of $9.80 and a 52-week high of $20.75. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.81 and a quick ratio of 1.51. The stock has a market capitalization of $88.39 billion, a PE ratio of 9.62, a P/E/G ratio of 1.99 and a beta of 0.96.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm had revenue of $29.57 billion for the quarter, compared to analysts’ expectations of $30.08 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 0.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 4.75%. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

Several institutional investors have recently made changes to their positions in GE. Buckley Wealth Management LLC lifted its holdings in General Electric by 1.3% in the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock worth $3,669,000 after buying an additional 3,575 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in General Electric by 28.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock worth $221,000 after buying an additional 3,600 shares during the period. Legacy Advisors LLC lifted its holdings in General Electric by 16.3% in the 2nd quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock worth $356,000 after buying an additional 3,669 shares during the period. Home Federal Bank of Tennessee lifted its holdings in General Electric by 7.4% in the 2nd quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock worth $725,000 after buying an additional 3,675 shares during the period. Finally, Advisors Capital Management LLC lifted its holdings in General Electric by 7.6% in the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock worth $711,000 after buying an additional 3,714 shares during the period. Hedge funds and other institutional investors own 53.75% of the company’s stock.

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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