General Electric Company (GE) Lowered to Hold at TheStreet
General Electric Company (NYSE:GE) was downgraded by stock analysts at TheStreet from a “b-” rating to a “hold” rating in a report released on Friday.
Other equities research analysts have also recently issued research reports about the stock. William Blair reaffirmed a “buy” rating on shares of General Electric Company in a research note on Saturday, April 1st. Argus cut their price objective on shares of General Electric Company from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, April 24th. Stifel Nicolaus upped their price objective on shares of General Electric Company from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric Company in a research note on Monday, April 3rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $34.00 price objective on shares of General Electric Company in a research note on Tuesday, April 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $31.73.
General Electric Company (NYSE:GE) opened at 28.05 on Friday. The firm has a market cap of $243.59 billion, a price-to-earnings ratio of 28.56 and a beta of 1.20. The stock’s 50 day moving average is $29.23 and its 200-day moving average is $30.19. General Electric Company has a one year low of $27.10 and a one year high of $33.00. General Electric Company also saw some unusual options trading activity on Thursday. Investors purchased 59,914 call options on the company. This is an increase of approximately 163% compared to the typical volume of 22,743 call options.
General Electric Company (NYSE:GE) last announced its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. General Electric Company had a net margin of 6.86% and a return on equity of 15.99%. The company had revenue of $27.66 billion during the quarter, compared to analysts’ expectations of $26.37 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that General Electric Company will post $1.63 earnings per share for the current fiscal year.
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In related news, Director William G. Beattie bought 4,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average cost of $27.70 per share, with a total value of $110,800.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marijn E. Dekkers bought 20,000 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was bought at an average cost of $29.90 per share, with a total value of $598,000.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $29,900. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 140,000 shares of company stock valued at $3,964,600. Corporate insiders own 0.23% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of General Electric Company by 2,734.0% in the first quarter. BlackRock Inc. now owns 497,892,998 shares of the conglomerate’s stock valued at $14,837,212,000 after buying an additional 480,324,238 shares during the last quarter. Norges Bank acquired a new position in shares of General Electric Company during the fourth quarter valued at about $2,383,193,000. Trustees of General Electric Pension Trust acquired a new position in shares of General Electric Company during the fourth quarter valued at about $1,038,590,000. Vanguard Group Inc. raised its position in shares of General Electric Company by 2.7% in the first quarter. Vanguard Group Inc. now owns 596,940,754 shares of the conglomerate’s stock valued at $17,788,833,000 after buying an additional 15,758,130 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of General Electric Company by 848.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 15,458,705 shares of the conglomerate’s stock valued at $488,626,000 after buying an additional 13,828,422 shares during the last quarter. 54.68% of the stock is owned by hedge funds and other institutional investors.
About General Electric Company
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