General Electric (GE) Receives “Underweight” Rating from JPMorgan Chase & Co.

General Electric (NYSE:GE)‘s stock had its “underweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a report issued on Monday, MarketBeat Ratings reports. They currently have a $14.00 target price on the conglomerate’s stock, down from their prior target price of $16.00. JPMorgan Chase & Co.’s price objective suggests a potential downside of 5.53% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Goldman Sachs Group set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, October 23rd. Stifel Nicolaus set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Morningstar set a $23.50 price target on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Citigroup reduced their price target on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.20.

Shares of General Electric (GE) traded down $0.12 during mid-day trading on Monday, reaching $14.82. The company’s stock had a trading volume of 75,519,457 shares, compared to its average volume of 107,170,000. General Electric has a fifty-two week low of $14.23 and a fifty-two week high of $30.59. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market capitalization of $128,520.00, a P/E ratio of 13.72, a PEG ratio of 2.83 and a beta of 0.93.

General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The company had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. equities research analysts expect that General Electric will post 0.99 earnings per share for the current fiscal year.

In related news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 124,370 shares of company stock worth $2,245,570 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in shares of General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after purchasing an additional 593,686 shares in the last quarter. Warren Averett Asset Management LLC boosted its position in shares of General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Palouse Capital Management Inc. boosted its position in shares of General Electric by 5.4% in the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after purchasing an additional 9,755 shares in the last quarter. Destination Wealth Management boosted its position in shares of General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Finally, Boston Partners boosted its position in shares of General Electric by 2.5% in the 3rd quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock worth $352,756,000 after purchasing an additional 360,154 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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About General Electric

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

Analyst Recommendations for General Electric (NYSE:GE)

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