General Electric (GE) PT Lowered to $15.00

General Electric (NYSE:GE) had its price target lowered by Deutsche Bank from $18.00 to $15.00 in a report published on Tuesday, November 21st, MarketBeat Ratings reports. The firm currently has a sell rating on the conglomerate’s stock.

A number of other brokerages have also recently commented on GE. Morgan Stanley reaffirmed an equal weight rating and set a $26.00 price objective (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the stock a sell rating in a research note on Monday, July 24th. Goldman Sachs Group set a $27.00 price objective on shares of General Electric and gave the stock a neutral rating in a research note on Monday, July 24th. Cowen reaffirmed a hold rating and set a $24.00 price objective on shares of General Electric in a research note on Monday, August 7th. Finally, UBS reaffirmed a buy rating and set a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Electric presently has an average rating of Hold and an average price target of $23.64.

Shares of General Electric (GE) traded up $0.05 during trading hours on Tuesday, reaching $17.71. 55,576,669 shares of the company traded hands, compared to its average volume of 45,155,109. General Electric has a one year low of $17.46 and a one year high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The firm has a market cap of $154,016.23, a P/E ratio of 14.32, a PEG ratio of 1.92 and a beta of 1.06.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. research analysts anticipate that General Electric will post 1.07 EPS for the current year.

In other news, Director Steven M. Mollenkopf acquired 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were bought at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock worth $2,183,220 in the last three months. 0.36% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. AXA raised its holdings in shares of General Electric by 1.8% during the 3rd quarter. AXA now owns 3,619,289 shares of the conglomerate’s stock worth $87,515,000 after acquiring an additional 62,716 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of General Electric by 4,215.4% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock worth $1,308,727,000 after acquiring an additional 52,870,164 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of General Electric by 50.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 32,528 shares of the conglomerate’s stock worth $787,000 after acquiring an additional 10,872 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of General Electric during the 3rd quarter worth $5,539,000. Finally, First Fiduciary Investment Counsel Inc. raised its holdings in shares of General Electric by 1.1% during the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 757,864 shares of the conglomerate’s stock worth $18,325,000 after acquiring an additional 8,595 shares during the period. Institutional investors own 55.74% of the company’s stock.

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