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

General Electric (NYSE:GE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Several other research analysts have also weighed in on the company. Barclays increased their target price on General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Bank of America raised their price objective on General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. Citigroup raised their price objective on General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Argus raised their price objective on General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Jefferies Financial Group raised their price objective on General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $120.00.

General Electric Price Performance

NYSE:GE traded up $1.07 during trading hours on Monday, reaching $116.56. 3,751,727 shares of the company traded hands, compared to its average volume of 6,133,065. General Electric has a 1-year low of $48.06 and a 1-year high of $117.96. The firm’s 50-day moving average is $112.98 and its 200-day moving average is $104.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. The stock has a market cap of $126.86 billion, a P/E ratio of 13.83, a P/E/G ratio of 7.22 and a beta of 1.28.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.22. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The business had revenue of $15.85 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. Equities research analysts expect that General Electric will post 2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder General Electric Pension Trust bought 35,160 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the acquisition, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder General Electric Pension Trust bought 35,160 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the acquisition, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total value of $12,973,132.80. Following the completion of the transaction, the senior vice president now directly owns 57,923 shares in the company, valued at approximately $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Steward Financial Group LLC purchased a new stake in shares of General Electric in the second quarter valued at $26,000. Prostatis Group LLC acquired a new position in shares of General Electric in the fourth quarter worth $29,000. Silicon Valley Capital Partners acquired a new position in shares of General Electric in the fourth quarter worth $31,000. Global Wealth Management Investment Advisory Inc. increased its stake in shares of General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 299 shares during the last quarter. Finally, Syverson Strege & Co increased its stake in shares of General Electric by 53.6% in the first quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.