General Electric Company (GE) Given “Sell” Rating at Deutsche Bank AG

Deutsche Bank AG reissued their sell rating on shares of General Electric Company (NYSE:GE) in a research report report published on Monday. They currently have a $21.00 price target on the conglomerate’s stock, down from their prior price target of $24.00.

A number of other equities analysts also recently commented on the company. UBS AG restated a buy rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the company a neutral rating in a report on Friday, July 7th. Credit Suisse Group reiterated an outperform rating and set a $33.00 target price on shares of General Electric in a report on Saturday, July 22nd. Citigroup Inc. reiterated a buy rating and set a $34.00 target price (down from $36.00) on shares of General Electric in a report on Monday, July 10th. Finally, TheStreet downgraded General Electric from a b- rating to a c rating in a report on Friday, May 19th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $29.65.

General Electric (NYSE:GE) opened at 24.26 on Monday. General Electric has a 52-week low of $23.58 and a 52-week high of $32.38. The firm has a 50-day moving average price of $24.87 and a 200 day moving average price of $27.62. The firm has a market capitalization of $210.04 billion, a P/E ratio of 29.55 and a beta of 1.22.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Analysts forecast that General Electric will post $1.56 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is 118.52%.

In other General Electric news, Director James S. Tisch purchased 100,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Leonard Flannery purchased 103,983 shares of the stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, 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. Insiders purchased a total of 233,253 shares of company stock worth $5,860,264 over the last 90 days. Insiders own 0.36% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Peak Financial Management Inc. grew its stake in General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after purchasing an additional 25 shares in the last quarter. BerganKDV Wealth Management LLC grew its stake in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after purchasing an additional 36 shares in the last quarter. Puplava Financial Services Inc. grew its stake in General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after purchasing an additional 41 shares in the last quarter. Cutter & CO Brokerage Inc. grew its stake in General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 67 shares in the last quarter. Finally, Northwest Wealth Management LLC grew its stake in General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 54.78% of the company’s stock.

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