General Electric Company (GE) Downgraded by UBS AG to “Neutral”
General Electric Company (NYSE:GE) was downgraded by investment analysts at UBS AG from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, www.boersen-zeitung.de reports. They presently have a $24.00 price target on the conglomerate’s stock. UBS AG’s target price points to a potential upside of 0.71% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective on the stock. in a report on Tuesday, July 4th. Citigroup Inc. reaffirmed a “buy” rating and issued a $34.00 price objective (down previously from $36.00) on shares of General Electric in a report on Monday, July 10th. Stifel Nicolaus dropped their price objective on shares of General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price objective on shares of General Electric in a report on Friday, September 15th. Finally, Argus dropped their price objective on shares of General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. General Electric presently has an average rating of “Hold” and a consensus price target of $27.51.
Shares of General Electric (NYSE GE) opened at 23.83 on Monday. The stock has a market cap of $206.32 billion, a P/E ratio of 29.03 and a beta of 1.19. General Electric has a one year low of $22.10 and a one year high of $32.38. The stock has a 50 day moving average of $24.11 and a 200 day moving average of $26.55.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 10.18% and a net margin of 5.38%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period last year, the business earned $0.32 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Equities analysts expect that General Electric will post $1.53 EPS for the current fiscal year.
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In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of GE. Ullmann Financial Group Inc. purchased a new stake in General Electric during the first quarter valued at about $106,000. MPS Loria Financial Planners LLC purchased a new stake in General Electric during the second quarter valued at about $113,000. Feltz Wealth PLAN Inc. purchased a new stake in General Electric during the first quarter valued at about $114,000. Ffcm LLC purchased a new stake in General Electric during the second quarter valued at about $114,000. Finally, PHH Investments Ltd. lifted its stake in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares in the last quarter. 54.67% of the stock is owned by institutional investors.
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