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

J P Morgan Chase & Co reaffirmed their underweight rating on shares of General Electric Company (NYSE:GE) in a research report released on Thursday.

A number of other research analysts have also issued reports on GE. Deutsche Bank AG set a $24.00 target price on shares of General Electric and gave the company a sell rating in a report on Monday, May 29th. Credit Suisse Group reduced their target price on shares of General Electric from $33.00 to $27.00 and set an outperform rating on the stock in a report on Thursday, June 1st. They noted that the move was a valuation call. Vetr upgraded shares of General Electric from a hold rating to a buy rating and set a $28.93 target price on the stock in a report on Wednesday, June 7th. Cowen and Company restated a market perform rating and issued a $30.00 target price on shares of General Electric in a report on Tuesday, June 13th. Finally, Bank of America Corporation restated a neutral rating and issued a $31.00 target price on shares of General Electric in a report on Tuesday, June 13th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $28.98.

Shares of General Electric (GE) opened at 24.87 on Thursday. The firm has a market capitalization of $215.32 billion, a PE ratio of 30.29 and a beta of 1.22. The company’s 50-day moving average is $24.74 and its 200 day moving average is $27.46. General Electric has a 52-week low of $23.58 and a 52-week high of $32.38.

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

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 118.52%.

In other news, insider Alexander Dimitrief acquired 1,845 shares of the stock in a transaction on Monday, July 24th. The stock was bought at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Rohr acquired 27,425 shares of the stock in a transaction on Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Insiders acquired 233,253 shares of company stock valued at $5,860,264 in the last ninety days. 0.36% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Sabal Trust CO grew its position in shares of General Electric by 5.4% during the second quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock worth $29,198,000 after buying an additional 55,049 shares in the last quarter. Smithbridge Asset Management Inc. DE grew its position in shares of General Electric by 47.2% during the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock worth $845,000 after buying an additional 10,025 shares in the last quarter. Windsor Financial Group LLC grew its position in shares of General Electric by 497.6% during the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock worth $4,662,000 after buying an additional 130,275 shares in the last quarter. Rothschild Investment Corp IL grew its position in shares of General Electric by 2.4% during the second quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock worth $12,569,000 after buying an additional 10,906 shares in the last quarter. Finally, Independence Trust CO grew its position in shares of General Electric by 12.3% during the first quarter. Independence Trust CO now owns 90,467 shares of the conglomerate’s stock worth $2,695,000 after buying an additional 9,890 shares in the last quarter. 54.71% of the stock is owned by institutional investors.

General Electric Company Profile

Analyst Recommendations for General Electric (NYSE:GE)

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