Stifel Nicolaus Cuts Rating On General Electric Company (GE)

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General Electric Company (NYSE:GE).

On October 23 the stock rating was downgraded from “Buy” to “Buy” with a current price target of $28.00 in a statement from UBS. On October 23 the company was upgraded to “Buy” from “Buy” and a price target of $28.00 was set by Bank of America.

Equity analyst Morgan Stanley both downgraded the stock and raised the price target on October 23 changing the price objective from $25.00 to $28.00 and altering the rating from “Equal-Weight” to “Buy”. UBS lowered the price target and downgraded the stock on October 23 changing the price target from $36.00 to $28.00 and moving the rating from “Buy” to “Buy”.

Bank of America upgraded the stock and lowered the price target on October 23 cutting the price target from $31.00 to $28.00 and setting the rating at “Buy” which had previously been “Buy”.

The company is so far trading down by 0.35% percent from yesterday’s close. General Electric Company announced a dividend for shareholders that will be paid on Wednesday the 25th of October 2017. The dividend will be $0.240 per share for the quarter or $0.96 on an annualized basis. The dividend yield will be $4.07. The ex-dividend date will be on Friday the 15th of September 2017.

It is currently trading at $22.24 just a bit lower than $24.03, the 50 day moving average and which is significantly below the 200 day moving average of $26.45. The 50 day moving average moved down $-1.79 and the 200 day average was down $-4.20.

General Electric Company (GE), launched on April 15, 1892, is a global digital industrial company. The Business’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. The Business’s segments include Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Energy Connections & Lighting, and Capital. As of December 31, 2016, the Company served customers in approximately 180 countries..

The company’s P/E ratio is 27.0906 and the market value is 192.56B. As of the last earnings report the EPS was $0.82 and is projected to be $1.53 for the current year with 8,657,946,000 shares now outstanding. Next quarter’s EPS is estimated at $0.31 with next year’s EPS projected to be $1.60.

Investors are more bearish on shares of the company lately if you look at the increase in short interest. The company recorded a rise in short interest from September 15, 2017 to September 29, 2017 of 2.19%. Short shares increased from 123,051,728 to 125,747,148 over that timeframe. With short interest at 125,747,148 and short average daily volume at 43,900,663, the short-interest ratio is 3.0 and the percentage of shorted shares is 0.06% as of September 29.

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