J P Morgan Chase & Co Reiterates Sell Rating for General Electric Company (GE)

J P Morgan Chase & Co reaffirmed their sell rating on shares of General Electric Company (NYSE:GE) in a research report released on Thursday. They currently have a target price on the conglomerate’s stock.

GE has been the topic of a number of other research reports. Morgan Stanley restated an equal weight rating and issued a $27.00 target price on shares of General Electric in a research report on Monday, July 17th. Royal Bank Of Canada restated a buy rating and issued a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Vetr upgraded shares of General Electric from a strong sell rating to a sell rating and set a $21.63 target price on the stock in a research report on Monday, October 2nd. Deutsche Bank AG restated a sell rating and issued a $21.00 target price (down previously from $24.00) on shares of General Electric in a research report on Monday, September 11th. Finally, Credit Suisse Group restated an outperform rating and issued a $33.00 target price on shares of General Electric in a research report on Saturday, July 22nd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $27.51.

General Electric (NYSE GE) opened at 23.83 on Thursday. The company has a 50-day moving average of $24.11 and a 200 day moving average of $26.55. The company has a market cap of $206.32 billion, a PE ratio of 29.03 and a beta of 1.19. General Electric has a 52-week low of $22.10 and a 52-week high of $32.38.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 5.38% and a return on equity of 10.18%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts predict that General Electric will post $1.53 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.03%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is currently 120.00%.

In related news, CEO John Leonard Flannery purchased 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was 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 owns 509,430 shares in the company, valued at approximately $13,021,030.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction on 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 disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Warren Averett Asset Management LLC increased its stake in General Electric by 7.0% in the second quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Sabal Trust CO increased its stake in General Electric by 5.4% in the second quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after purchasing an additional 55,049 shares in the last quarter. Smithbridge Asset Management Inc. DE increased its stake in General Electric by 47.2% in the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after purchasing an additional 10,025 shares in the last quarter. Rothschild Investment Corp IL increased its stake in General Electric by 2.4% in the second quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after purchasing an additional 10,906 shares in the last quarter. Finally, Windsor Financial Group LLC increased its stake in General Electric by 497.6% in the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after purchasing an additional 130,275 shares in the last quarter. 54.67% of the stock is owned by hedge funds and other institutional investors.

About General Electric

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