General Electric’s (GE) Sell Rating Reaffirmed at Deutsche Bank AG
General Electric Company (NYSE:GE)‘s stock had its “sell” rating restated by equities research analysts at Deutsche Bank AG in a note issued to investors on Monday. They presently have a $21.00 target price on the conglomerate’s stock, down from their previous target price of $24.00. Deutsche Bank AG’s price target suggests a potential downside of 11.47% from the company’s previous close.
A number of other brokerages have also recently weighed in on GE. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price target on the stock. in a research note on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and issued a $26.00 price target (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. BidaskClub cut General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research note on Monday, July 24th. Finally, Standpoint Research raised General Electric from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research note on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.92.
Shares of General Electric (NYSE:GE) traded down 0.42% during midday trading on Monday, reaching $23.72. 42,487,785 shares of the company were exchanged. The company has a market capitalization of $205.37 billion, a PE ratio of 28.89 and a beta of 1.22. General Electric has a 52-week low of $23.58 and a 52-week high of $32.38. The firm’s 50 day moving average is $25.02 and its 200-day moving average is $27.76.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the business earned $0.51 earnings per share. General Electric’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post $1.56 earnings per share for the current fiscal year.
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In other General Electric news, CEO John Leonard Flannery purchased 103,983 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now directly owns 509,430 shares in the company, valued at $13,021,030.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 233,253 shares of company stock valued at $5,860,264. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. raised its stake in shares of General Electric by 163.2% in the second quarter. Intl Fcstone Inc. now owns 38,320 shares of the conglomerate’s stock valued at $1,035,000 after purchasing an additional 23,760 shares in the last quarter. M Holdings Securities Inc. raised its stake in shares of General Electric by 21.6% in the second quarter. M Holdings Securities Inc. now owns 136,875 shares of the conglomerate’s stock valued at $3,697,000 after purchasing an additional 24,344 shares in the last quarter. Griffin Asset Management Inc. acquired a new position in shares of General Electric in the second quarter valued at $7,973,000. Kimelman & Baird LLC raised its stake in shares of General Electric by 0.3% in the second quarter. Kimelman & Baird LLC now owns 910,162 shares of the conglomerate’s stock valued at $24,583,000 after purchasing an additional 2,545 shares in the last quarter. Finally, Sentry Investment Management LLC raised its stake in shares of General Electric by 0.5% in the second quarter. Sentry Investment Management LLC now owns 698,585 shares of the conglomerate’s stock valued at $18,869,000 after purchasing an additional 3,225 shares in the last quarter. Institutional investors own 54.78% of the company’s stock.
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