General Electric (NYSE:GE) Cut to Hold at StockNews.com

StockNews.com downgraded shares of General Electric (NYSE:GE) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Several other analysts also recently issued reports on the stock. Barclays lowered their price objective on shares of General Electric from $181.00 to $175.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. Citigroup raised their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a buy rating in a research report on Thursday, April 25th. UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a buy rating in a research report on Monday, July 1st. TD Cowen raised shares of General Electric from a hold rating to a buy rating and raised their price target for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an overweight rating in a research report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $185.71.

General Electric Stock Down 0.3 %

Shares of NYSE:GE opened at $169.70 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20. The company has a 50 day moving average of $162.97 and a two-hundred day moving average of $157.41. The company has a market capitalization of $184.01 billion, a price-to-earnings ratio of 55.64, a price-to-earnings-growth ratio of 1.71 and a beta of 1.21.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the company earned $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts forecast that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC raised its stake in shares of General Electric by 29.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. USA Financial Formulas raised its stake in shares of General Electric by 24,042.9% during the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares in the last quarter. Grandfield & Dodd LLC raised its stake in shares of General Electric by 9.3% during the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Rathbones Group PLC grew its holdings in General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after acquiring an additional 5,997 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in General Electric by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock worth $534,123,000 after acquiring an additional 318,245 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.