ValuEngine downgraded shares of General Electric (NYSE:GE) from a hold rating to a sell rating in a research report sent to investors on Friday morning, ValuEngine reports.

Several other equities analysts have also recently issued reports on GE. UBS Group cut shares of General Electric from a buy rating to a neutral rating and lowered their target price for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Deutsche Bank set a $10.00 target price on shares of General Electric and gave the company a hold rating in a research note on Thursday, May 2nd. Citigroup set a $14.00 target price on shares of General Electric and gave the company a buy rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. restated a sell rating on shares of General Electric in a research note on Wednesday, July 31st. Finally, Zacks Investment Research cut shares of General Electric from a strong-buy rating to a hold rating and set a $12.00 target price on the stock. in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. General Electric presently has a consensus rating of Hold and an average target price of $11.68.

Shares of GE stock opened at $8.67 on Friday. General Electric has a one year low of $6.66 and a one year high of $13.78. The company’s 50-day moving average is $9.94 and its 200 day moving average is $9.95. The company has a market capitalization of $69.90 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.73 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same period in the prior year, the firm posted $0.19 EPS. General Electric’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts predict that General Electric will post 0.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s payout ratio is 6.15%.

In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the sale, the director now owns 25,000 shares in the company, valued at approximately $250,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas S. Timko bought 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $8.83 per share, for a total transaction of $88,300.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 794,568 shares of company stock worth $6,904,045. 1.13% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GE. CHICAGO TRUST Co NA grew its holdings in shares of General Electric by 0.4% in the second quarter. CHICAGO TRUST Co NA now owns 249,228 shares of the conglomerate’s stock valued at $2,617,000 after purchasing an additional 992 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of General Electric by 1.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock valued at $447,000 after purchasing an additional 1,013 shares in the last quarter. Evanson Asset Management LLC grew its holdings in shares of General Electric by 5.6% in the second quarter. Evanson Asset Management LLC now owns 19,490 shares of the conglomerate’s stock valued at $205,000 after purchasing an additional 1,029 shares in the last quarter. Schnieders Capital Management LLC grew its holdings in shares of General Electric by 6.0% in the second quarter. Schnieders Capital Management LLC now owns 18,573 shares of the conglomerate’s stock valued at $195,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of General Electric by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 105,683 shares of the conglomerate’s stock valued at $818,000 after purchasing an additional 1,054 shares in the last quarter. 58.85% of the stock is owned by institutional investors and hedge funds.

General Electric Company Profile

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

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Analyst Recommendations for General Electric (NYSE:GE)

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