General Electric Company (GE) Upgraded to Sell by Vetr Inc.
General Electric Company (NYSE:GE) was upgraded by Vetr from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday. The brokerage presently has a $21.74 target price on the conglomerate’s stock. Vetr‘s price objective would suggest a potential downside of 6.93% from the company’s previous close.
A number of other equities research analysts have also weighed in on the stock. J P Morgan Chase & Co reissued a “sell” rating on shares of General Electric in a report on Monday. Credit Suisse Group restated an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of General Electric in a research report on Thursday, October 5th. Morgan Stanley decreased their target price on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, October 2nd. Argus decreased their target price on shares of General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 18th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $28.40.
General Electric (NYSE GE) traded down 0.30% during trading on Tuesday, hitting $23.36. The firm has a market capitalization of $202.25 billion, a PE ratio of 28.45 and a beta of 1.19. The stock has a 50 day moving average of $24.37 and a 200-day moving average of $26.88. General Electric has a one year low of $23.25 and a one year high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Equities analysts anticipate that General Electric will post $1.55 earnings per share for the current fiscal year.
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In related news, Director James S. Tisch purchased 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief purchased 1,845 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 233,253 shares of company stock valued at $5,860,264. Insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. Lowe FS grew its stake in General Electric by 155.3% during the 3rd quarter. Lowe FS now owns 1,297 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 789 shares in the last quarter. Fusion Family Wealth LLC purchased a new stake in General Electric during the 4th quarter valued at about $100,000. Ullmann Financial Group Inc. purchased a new stake in General Electric during the 1st quarter valued at about $106,000. Catamount Wealth Management grew its stake in General Electric by 35.3% during the 1st quarter. Catamount Wealth Management now owns 3,451 shares of the conglomerate’s stock valued at $110,000 after acquiring an additional 901 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in General Electric during the 2nd quarter valued at about $113,000. Hedge funds and other institutional investors own 54.69% of the company’s stock.
About General Electric
To view Vetr’s full report, visit Vetr’s official website.
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