General Electric Company (GE) Cut to “Sell” at Deutsche Bank AG

Deutsche Bank AG lowered shares of General Electric Company (NYSE:GE) from a hold rating to a sell rating in a research report report published on Friday, May 12th, MarketBeat reports. They currently have $24.00 price target on the conglomerate’s stock, down from their previous price target of $28.00.

GE has been the topic of a number of other research reports. Barclays PLC reiterated an overweight rating and issued a $36.00 price objective on shares of General Electric Company in a research report on Monday, March 20th. Zacks Investment Research cut General Electric Company from a hold rating to a sell rating in a research note on Tuesday, March 7th. J P Morgan Chase & Co set a $29.00 target price on General Electric Company and gave the company a sell rating in a research note on Friday, January 13th. Sanford C. Bernstein set a $38.00 price objective on General Electric Company and gave the company a buy rating in a research note on Friday, February 24th. Finally, BMO Capital Markets reaffirmed a hold rating on shares of General Electric Company in a research note on Thursday, March 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $31.41.

General Electric Company (NYSE GE) traded up 0.21% during trading on Friday, reaching $29.00. The company’s stock had a trading volume of 81,565,622 shares. The firm has a market cap of $251.83 billion, a P/E ratio of 29.53 and a beta of 1.25. General Electric Company has a 52 week low of $27.10 and a 52 week high of $33.00. The stock’s 50 day moving average is $28.29 and its 200-day moving average is $29.89.

General Electric Company (NYSE:GE) last posted its earnings results on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $27.66 billion for the quarter, compared to the consensus estimate of $26.37 billion. General Electric Company had a return on equity of 16.59% and a net margin of 7.48%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, equities research analysts forecast that General Electric Company will post $1.64 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.31%. General Electric Company’s payout ratio is 97.96%.

In other news, Director Marijn E. Dekkers purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $598,000.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $29,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Beattie purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $27.70 per share, for a total transaction of $110,800.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 140,000 shares of company stock worth $3,964,600 over the last quarter. 0.36% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. NBW Capital LLC bought a new position in shares of General Electric Company during the third quarter worth approximately $2,853,000. Jarislowsky Fraser Ltd increased its position in shares of General Electric Company by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock worth $128,787,000 after buying an additional 211,742 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in shares of General Electric Company during the fourth quarter worth approximately $29,719,000. Roundview Capital LLC increased its position in shares of General Electric Company by 2.0% in the fourth quarter. Roundview Capital LLC now owns 76,472 shares of the conglomerate’s stock worth $2,417,000 after buying an additional 1,515 shares in the last quarter. Finally, AE Wealth Management LLC bought a new position in shares of General Electric Company during the fourth quarter worth approximately $2,092,000. Institutional investors own 55.08% of the company’s stock.

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