JPMorgan Chase & Co. Reiterates “Sell” Rating for General Electric (GE)

JPMorgan Chase & Co. reiterated their sell rating on shares of General Electric (NYSE:GE) in a report issued on Monday. They currently have a $16.00 price target on the conglomerate’s stock, down from their previous price target of $17.00.

Several other equities analysts have also recently issued reports on GE. Vetr cut shares of General Electric from a hold rating to a sell rating and set a $23.72 price target on the stock. in a research report on Monday, September 25th. Cowen restated a hold rating and issued a $19.00 price objective on shares of General Electric in a report on Wednesday, November 8th. Deutsche Bank set a $21.00 price objective on shares of General Electric and gave the stock a sell rating in a report on Monday, October 23rd. Tigress Financial restated a hold rating on shares of General Electric in a report on Thursday, December 28th. Finally, Goldman Sachs Group set a $23.00 price objective on shares of General Electric and gave the stock a hold rating in a report on Tuesday, October 17th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $23.19.

General Electric (GE) opened at $18.93 on Monday. General Electric has a 52-week low of $17.25 and a 52-week high of $31.52. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market cap of $164,080.00, a PE ratio of 22.01, a P/E/G ratio of 2.05 and a beta of 1.07.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts forecast that General Electric will post 1.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.54%. General Electric’s dividend payout ratio is presently 55.81%.

In other news, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last quarter, insiders bought 120,500 shares of company stock worth $2,183,220. Insiders own 0.36% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Peak Financial Management Inc. lifted its position in General Electric by 0.3% during the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after purchasing an additional 25 shares during the period. Puplava Financial Services Inc. lifted its position in General Electric by 0.4% during the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after purchasing an additional 41 shares during the period. Cutter & CO Brokerage Inc. lifted its position in General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 67 shares during the period. Northwest Wealth Management LLC lifted its position in General Electric by 0.8% during the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after purchasing an additional 75 shares during the period. Finally, NorthRock Partners LLC lifted its position in General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 55.63% of the company’s stock.

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