General Electric (NYSE:GE) Downgraded by UBS Group to “Neutral”

UBS Group downgraded shares of General Electric (NYSE:GE) from a buy rating to a neutral rating in a report released on Monday, 24/7 WallStreet reports. The firm currently has $11.50 target price on the conglomerate’s stock, down from their prior target price of $13.00.

Several other equities research analysts have also commented on GE. ValuEngine lowered Zions Bancorporation NA from a hold rating to a sell rating in a research note on Wednesday, March 20th. Citigroup set a $14.00 price objective on General Electric and gave the stock a buy rating in a research note on Wednesday, June 19th. Cowen restated a hold rating and issued a $103.00 price objective on shares of United Therapeutics in a research note on Wednesday, May 1st. Deutsche Bank lowered Cogent Communications from a buy rating to a hold rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. set a $60.00 price target on Bayerische Motoren Werke and gave the stock a sell rating in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $11.62.

NYSE:GE opened at $10.06 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. The stock has a market cap of $87.03 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 2.27 and a beta of 1.03. General Electric has a one year low of $6.66 and a one year high of $13.88. The business has a fifty day moving average of $10.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $27.29 billion during the quarter, compared to analyst estimates of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. General Electric’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Research analysts anticipate that General Electric will post 0.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 1st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. General Electric’s payout ratio is presently 6.15%.

In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. FMR LLC boosted its holdings in shares of General Electric by 49.4% during the 1st quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock valued at $4,499,762,000 after purchasing an additional 148,979,851 shares during the last quarter. Norges Bank bought a new position in shares of General Electric during the 4th quarter valued at about $555,184,000. Harris Associates L P boosted its holdings in shares of General Electric by 35.1% during the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock valued at $921,903,000 after purchasing an additional 31,634,318 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of General Electric by 90.0% during the 4th quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock valued at $479,662,000 after purchasing an additional 30,017,912 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of General Electric by 1,719.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,319,274 shares of the conglomerate’s stock valued at $2,288,000 after purchasing an additional 16,367,170 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: Are sell-side analysts objective?

Analyst Recommendations for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.