ValuEngine Upgrades General Electric (GE) to “Hold”

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ValuEngine upgraded shares of General Electric (NYSE:GE) from a sell rating to a hold rating in a research report report published on Wednesday morning.

GE has been the topic of a number of other reports. Vertical Research upgraded General Electric from a hold rating to a buy rating in a research note on Wednesday, December 19th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $6.00 price objective on shares of General Electric in a research note on Wednesday, March 6th. Zacks Investment Research lowered General Electric from a hold rating to a sell rating in a research note on Tuesday. UBS Group set a $13.00 price objective on General Electric and gave the stock a buy rating in a research note on Monday, December 10th. Finally, William Blair reiterated a buy rating on shares of General Electric in a research note on Monday, January 14th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $12.44.

NYSE GE opened at $9.98 on Wednesday. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $15.59. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.52 and a current ratio of 1.81. The stock has a market cap of $89.17 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 4.57 and a beta of 0.99.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion. General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. Analysts anticipate that General Electric will post 0.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, March 8th. This represents a $0.04 annualized dividend and a yield of 0.40%. General Electric’s dividend payout ratio is 6.15%.

In related news, insider Russell Stokes sold 49,904 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the transaction, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in General Electric by 158.6% during the second quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after purchasing an additional 126,169,069 shares in the last quarter. Norges Bank acquired a new stake in General Electric during the fourth quarter valued at approximately $555,184,000. Harris Associates L P boosted its holdings in General Electric by 35.1% during the fourth quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock valued at $921,903,000 after purchasing an additional 31,634,318 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in General Electric by 90.0% during the fourth quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock valued at $479,662,000 after purchasing an additional 30,017,912 shares in the last quarter. Finally, Canyon Capital Advisors LLC acquired a new stake in General Electric during the third quarter valued at approximately $200,510,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for General Electric (NYSE:GE)

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