General Electric (GE) Earns “Sell” Rating from JPMorgan Chase & Co.
General Electric (NYSE:GE)‘s stock had its “sell” rating reissued by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday. They presently have a $10.00 target price on the conglomerate’s stock. JPMorgan Chase & Co.’s price target points to a potential downside of 19.74% from the company’s current price.
GE has been the subject of several other research reports. Gabelli reissued a “buy” rating on shares of General Electric in a research note on Wednesday, July 18th. Goldman Sachs Group reissued a “neutral” rating and issued a $14.00 price objective on shares of General Electric in a research note on Wednesday, June 27th. Barclays reissued a “neutral” rating and issued a $16.00 price objective on shares of General Electric in a research note on Monday, July 9th. MED raised shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research note on Thursday, July 12th. Finally, Royal Bank of Canada set a $15.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Monday, July 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $16.34.
Shares of GE opened at $12.46 on Thursday. General Electric has a 1-year low of $11.94 and a 1-year high of $25.21. The stock has a market cap of $111.66 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.44 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.
In other news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was bought at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.12% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Fusion Family Wealth LLC increased its holdings in shares of General Electric by 153.3% in the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of General Electric in the 1st quarter valued at $116,000. Santori & Peters Inc. acquired a new position in shares of General Electric in the 4th quarter valued at $120,000. Archford Capital Strategies LLC acquired a new position in shares of General Electric in the 1st quarter valued at $121,000. Finally, Amussen Hunsaker Associates LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $134,000. Institutional investors own 53.70% of the company’s stock.
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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