JPMorgan Chase & Co. Reiterates Sell Rating for General Electric (NYSE:GE)

General Electric (NYSE:GE)‘s stock had its “sell” rating reissued by JPMorgan Chase & Co. in a report issued on Monday, January 8th. They presently have a $16.00 price target on the conglomerate’s stock, down from their previous price target of $17.00. JPMorgan Chase & Co.’s price objective would suggest a potential downside of 14.71% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Goldman Sachs Group set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a research 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 research report on Monday, October 23rd. Stifel Nicolaus set a $22.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Tuesday, November 14th. Vetr raised General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective on the stock in a research note on Monday, October 30th. Finally, Royal Bank of Canada downgraded General Electric from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $25.00 to $20.00 in a research note on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. General Electric has a consensus rating of “Hold” and an average target price of $23.25.

Shares of General Electric (GE) opened at $18.76 on Monday. The company has a market capitalization of $162,690.00, a P/E ratio of 21.81, a P/E/G ratio of 2.11 and a beta of 1.07. 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 12-month low of $17.25 and a 12-month high of $31.45.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. analysts anticipate that General Electric will post 1.07 earnings per share for the current year.

In other news, Chairman John Leonard Flannery acquired 60,000 shares of General Electric stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased 120,500 shares of company stock valued at $2,183,220 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of GE. MPS Loria Financial Planners LLC acquired a new position in General Electric during the second quarter valued at approximately $113,000. Ffcm LLC acquired a new position in General Electric during the second quarter valued at approximately $114,000. Corbenic Partners LLC raised its position in General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares in the last quarter. Bristlecone Advisors LLC acquired a new position in General Electric during the third quarter valued at approximately $164,000. Finally, KCS Wealth Advisory acquired a new position in General Electric during the fourth quarter valued at approximately $183,000. Institutional investors own 55.64% of the company’s stock.

WARNING: “JPMorgan Chase & Co. Reiterates Sell Rating for General Electric (NYSE:GE)” was posted by BBNS and is owned by of BBNS. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://baseballnewssource.com/markets/general-electric-ge-stock-rating-reaffirmed-by-jpmorgan-chase-co/1815828.html.

General Electric Company Profile

Analyst Recommendations for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.