General Electric cutting 12000 jobs in energy division

07 December, 2017, 19:12 | Author: Regina Silva
  • The General Electric logo is seen in a Sears store in Schaumburg Illinois

Novare Capital Management Llc decreased its stake in General Electric (GE) by 31.82% based on its latest 2017Q2 regulatory filing with the SEC. It worsened, as 85 investors sold GE shares while 816 reduced holdings. American Assets Investment Management Llc acquired 50,000 shares as General Electric Co (GE)'s stock declined 7.64%. Neuberger Berman Group LLC grew its stake in American Electric Power by 5.5% during the 2nd quarter. On Monday, October 23 the stock rating was upgraded by Bank of America to "Buy". maintained the shares of GE in report on Monday, October 10 with "Buy" rating. Institutional investors own 71.01% of the company's stock. Canadian Reit had 13 analyst reports since August 4, 2015 according to SRatingsIntel.

GE bought Alstom's power and grid business, including the Stafford operation, in November 2015. Finally, Morningstar reissued a "buy" rating on shares of General Electric in a research note on Tuesday, November 14th. The rating was upgraded by Credit Suisse on Wednesday, September 16 to "Focus List". KeyCorp reissued a "buy" rating and issued a $73.00 price target on shares of American Electric Power in a research note on Friday, September 1st. Deutsche Bank maintained General Electric Company (NYSE:GE) on Tuesday, August 25 with "Hold" rating. Both companies face growing competitive pressures from renewables and the market for their huge turbines has reversed into an oversupply situation.

Among 29 analysts covering Comcast Corporation (NASDAQ:CMCSA), 24 have Buy rating, 1 Sell and 4 Hold.

General Electric Company (NYSE:GE) traded down $0.10 during trading on Thursday, reaching $17.66. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. American Electric Power Company Inc has a fifty-two week low of $59.35 and a fifty-two week high of $78.07.

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Pinnacle Holding Ltd reported 0% of its portfolio in General Electric Company (NYSE:GE). After $0.29 actual earnings per share reported by General Electric Company for the previous quarter, Wall Street now forecasts -3.45% negative EPS growth. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. It generated about $27 billion in revenue last year and employed 57,000 at the start of the year.

"The announcement by GE that it wants to cut thousands of jobs across Europe is neither strategically nor economically justifiable, and serves only to maximize short-term profit for shareholders", said Klaus Stein, a union representative at GE's plant in Mannheim, according to Reuters.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. "Has $472.11 Million Stake in American Electric Power Company Inc (AEP)" was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. The service areas of the Company's public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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