General Electric (NYSE:GE) Downgraded to Sell at ValuEngine

ValuEngine cut shares of General Electric (NYSE:GE) from a hold rating to a sell rating in a research report released on Tuesday, ValuEngine reports.

Other research analysts have also recently issued research reports about the stock. William Blair reaffirmed a buy rating on shares of General Electric in a report on Friday, August 16th. Royal Bank of Canada reissued a buy rating and set a $13.00 price objective on shares of General Electric in a research note on Wednesday, October 30th. Morgan Stanley started coverage on General Electric in a research note on Thursday, September 5th. They set an equal weight rating and a $10.00 price objective for the company. Deutsche Bank raised their price target on General Electric from $9.00 to $11.00 in a report on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of General Electric from a sell rating to a hold rating and set a $10.00 price objective on the stock in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $10.35.

NYSE GE opened at $10.99 on Tuesday. The firm has a market cap of $98.43 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67. The company’s 50 day moving average is $10.47 and its 200-day moving average is $9.76. General Electric has a 12-month low of $6.66 and a 12-month high of $11.84.

General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Equities analysts expect that General Electric will post 0.61 EPS for the current year.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in General Electric by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock valued at $6,805,671,000 after acquiring an additional 8,989,832 shares during the period. BlackRock Inc. grew its holdings in General Electric by 1.9% in the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock worth $5,383,800,000 after purchasing an additional 9,483,976 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of General Electric by 26.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after purchasing an additional 76,193,032 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of General Electric by 0.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 112,158,363 shares of the conglomerate’s stock valued at $1,177,663,000 after purchasing an additional 364,061 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of General Electric by 0.5% during the second quarter. Northern Trust Corp now owns 102,577,946 shares of the conglomerate’s stock valued at $1,077,069,000 after purchasing an additional 498,587 shares in the last quarter. 60.22% of the stock is owned by hedge funds and other institutional investors.

General Electric Company Profile

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.

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Analyst Recommendations for General Electric (NYSE:GE)

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