General Electric’s (GE) Sell Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their sell rating on shares of General Electric (NYSE:GE) in a research note issued to investors on Friday morning. The brokerage currently has a $11.00 target price on the conglomerate’s stock.

Other research analysts also recently issued reports about the stock. UBS Group reduced their target price on shares of General Electric from $16.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, September 5th. Stifel Nicolaus reissued a neutral rating and set a $15.00 target price on shares of General Electric in a research report on Friday, May 18th. MED raised shares of General Electric from a sell rating to a hold rating and set a $15.00 target price for the company in a research report on Thursday, July 12th. Goldman Sachs Group reissued a neutral rating and set a $14.00 target price on shares of General Electric in a research report on Wednesday, June 27th. Finally, Cowen reissued a hold rating and set a $14.50 target price on shares of General Electric in a research report on Friday, July 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $16.99.

General Electric stock opened at $12.70 on Friday. General Electric has a twelve month low of $11.94 and a twelve month high of $25.21. The company has a market cap of $109.49 billion, a PE ratio of 12.10, a P/E/G ratio of 2.39 and a beta of 0.96. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39.

General Electric (NYSE:GE) last released its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. equities analysts expect that General Electric will post 0.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.78%. The ex-dividend date is Friday, September 14th. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

In other General Electric news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The stock was bought at an average cost of $13.04 per share, with a total value of $2,490,640.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.12% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GE. Buckley Wealth Management LLC raised its position in shares of General Electric by 1.3% during the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock valued at $3,669,000 after buying an additional 3,575 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of General Electric by 28.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock valued at $221,000 after buying an additional 3,600 shares in the last quarter. Legacy Advisors LLC raised its position in shares of General Electric by 16.3% during the 2nd quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock valued at $356,000 after buying an additional 3,669 shares in the last quarter. Home Federal Bank of Tennessee raised its position in shares of General Electric by 7.4% during the 2nd quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock valued at $725,000 after buying an additional 3,675 shares in the last quarter. Finally, Advisors Capital Management LLC raised its position in shares of General Electric by 7.6% during the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock valued at $711,000 after buying an additional 3,714 shares in the last quarter. 53.74% of the stock is owned by institutional investors.

General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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