General Electric (GE) Receives Sell Rating from Deutsche Bank

General Electric (NYSE:GE)‘s stock had its “sell” rating reaffirmed by research analysts at Deutsche Bank in a research report issued to clients and investors on Wednesday. They presently have a $15.00 price objective on the conglomerate’s stock. Deutsche Bank’s price objective suggests a potential downside of 7.75% from the stock’s previous close.

A number of other research firms have also issued reports on GE. Vetr lowered shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a research report on Monday, September 25th. Credit Suisse Group reissued an “outperform” rating and set a $30.00 price target (down from $33.00) on shares of General Electric in a research report on Thursday, October 5th. JPMorgan Chase & Co. set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Morgan Stanley reduced their price target on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, October 2nd. Finally, UBS Group lowered shares of General Electric from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Six research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.94.

Shares of General Electric (GE) traded down $0.51 during trading on Wednesday, hitting $16.26. 213,950,587 shares of the company traded hands, compared to its average volume of 79,660,000. The stock has a market cap of $141,010.00, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.96 and a beta of 1.07. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a 52-week low of $16.02 and a 52-week high of $31.34.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. analysts anticipate that General Electric will post 1.05 EPS for the current year.

In related news, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders have bought a total of 120,500 shares of company stock worth $2,183,220 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bridge Creek Capital Management LLC lifted its holdings in General Electric by 13.4% in the 4th quarter. Bridge Creek Capital Management LLC now owns 170,849 shares of the conglomerate’s stock valued at $2,981,000 after purchasing an additional 20,230 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in General Electric by 1,802.3% in the 4th quarter. State of Alaska Department of Revenue now owns 785,801 shares of the conglomerate’s stock valued at $13,711,000 after purchasing an additional 744,493 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in General Electric by 5.1% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 249,460 shares of the conglomerate’s stock valued at $4,353,000 after purchasing an additional 12,181 shares in the last quarter. Heritage Way Advisors LLC purchased a new position in General Electric in the 4th quarter valued at $349,000. Finally, Smithbridge Asset Management Inc. DE lifted its holdings in General Electric by 23.6% in the 4th quarter. Smithbridge Asset Management Inc. DE now owns 45,331 shares of the conglomerate’s stock valued at $791,000 after purchasing an additional 8,663 shares in the last quarter. 55.64% of the stock is currently owned by hedge funds and other institutional investors.

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General Electric Company Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

Analyst Recommendations for General Electric (NYSE:GE)

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