J P Morgan Chase & Co Lowers General Electric Company (GE) Price Target to $17.00

General Electric Company (NYSE:GE) had its target price reduced by J P Morgan Chase & Co from $19.00 to $17.00 in a report issued on Wednesday, MarketBeat reports. They currently have an underweight rating on the conglomerate’s stock.

A number of other research firms have also commented on GE. Vetr lowered shares of General Electric from a strong-buy rating to a buy rating and set a $30.48 price objective for the company. in a research note on Tuesday, July 4th. Cowen and Company reaffirmed a hold rating and issued a $27.00 price objective on shares of General Electric in a research note on Monday, July 17th. Morgan Stanley reaffirmed an equal weight rating and issued a $27.00 price objective on shares of General Electric in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of General Electric and gave the stock a neutral rating in a research note on Friday, July 7th. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $34.00 price objective (down previously from $36.00) on shares of General Electric in a research note on Monday, July 10th. Six research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $25.84.

General Electric (GE) traded up $0.20 during trading on Wednesday, reaching $20.14. 66,914,071 shares of the company were exchanged, compared to its average volume of 75,370,000. General Electric has a 1 year low of $19.63 and a 1 year high of $32.38. The company has a quick ratio of 1.56, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market cap of $174,660.00, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts expect that General Electric will post 1.06 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 4.77%. General Electric’s dividend payout ratio (DPR) is presently 111.63%.

In other news, CEO John Leonard Flannery bought 103,983 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James S. Tisch bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ullmann Financial Group Inc. bought a new position in General Electric in the 1st quarter worth $106,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric during the 1st quarter worth about $114,000. PHH Investments Ltd. increased its holdings in shares of General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares during the period. Ffcm LLC bought a new position in shares of General Electric during the 2nd quarter worth about $114,000. Finally, MPS Loria Financial Planners LLC bought a new position in shares of General Electric during the 2nd quarter worth about $113,000. Hedge funds and other institutional investors own 54.53% of the company’s stock.

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