General Electric’s (GE) Sell Rating Reaffirmed at J P Morgan Chase & Co

General Electric Company (NYSE:GE)‘s stock had its “sell” rating reaffirmed by stock analysts at J P Morgan Chase & Co in a report released on Thursday. They currently have a $17.00 price target on the conglomerate’s stock. J P Morgan Chase & Co’s price target would suggest a potential downside of 6.92% from the company’s current price.

Other analysts also recently issued reports about the stock. UBS AG reiterated a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Bank of America Corporation upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, October 23rd. Royal Bank Of Canada set a $25.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. Citigroup Inc. set a $28.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Vetr upgraded shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price target on the stock in a research report on Monday, October 30th. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.84.

General Electric (GE) traded up $0.36 during trading on Thursday, reaching $18.26. 102,807,380 shares of the company’s stock were exchanged, compared to its average volume of 43,485,949. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric has a 52 week low of $17.46 and a 52 week high of $32.38. The firm has a market cap of $158,310.00, a P/E ratio of 15.34, a PEG ratio of 1.99 and a beta of 1.11.

General Electric (NYSE:GE) last released its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. research analysts expect that General Electric will post 1.06 earnings per share for the current fiscal year.

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In other General Electric news, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $24.56 per share, with a total value of $2,456,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.36% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric in the 1st quarter valued at approximately $106,000. PHH Investments Ltd. boosted its holdings in shares of General Electric by 105.0% in the 1st 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 during the last quarter. Ffcm LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at approximately $114,000. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at approximately $113,000. Finally, Corbenic Partners LLC boosted its holdings in shares of General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares during the last quarter. 54.29% of the stock is owned by institutional investors.

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