General Electric Company (NYSE:GE) received a $22.00 price target from stock analysts at Goldman Sachs Group, Inc. (The) in a report issued on Monday. The brokerage currently has a “neutral” rating on the conglomerate’s stock. Goldman Sachs Group, Inc. (The)’s price target indicates a potential downside of 7.68% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. UBS AG reissued a “buy” rating and set a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating and set a $34.00 price objective (down previously from $36.00) on shares of General Electric in a research note on Monday, July 10th. Credit Suisse Group reissued an “outperform” rating and set a $30.00 price objective (down previously from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 price objective on shares of General Electric in a research note on Friday, September 15th. Finally, J P Morgan Chase & Co reissued a “sell” rating and set a price objective on shares of General Electric in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. General Electric has an average rating of “Hold” and an average target price of $26.75.

Shares of General Electric (NYSE GE) traded down 5.75% on Monday, reaching $22.46. The company’s stock had a trading volume of 88,302,793 shares. General Electric has a one year low of $22.10 and a one year high of $32.38. The firm has a 50-day moving average price of $24.11 and a 200 day moving average price of $26.55. The firm has a market capitalization of $194.46 billion, a PE ratio of 27.36 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 5.38% and a return on equity of 10.18%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts anticipate that General Electric will post $1.53 earnings per share for the current fiscal year.

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In other news, CEO John Leonard Flannery purchased 103,983 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GE. Asset Planning Services Ltd. grew its holdings in General Electric by 18.4% during the 1st quarter. Asset Planning Services Ltd. now owns 14,009 shares of the conglomerate’s stock worth $417,000 after acquiring an additional 2,182 shares in the last quarter. Howland Capital Management LLC grew its holdings in General Electric by 0.8% during the 1st quarter. Howland Capital Management LLC now owns 1,298,709 shares of the conglomerate’s stock worth $38,702,000 after acquiring an additional 10,742 shares in the last quarter. Reilly Financial Advisors LLC grew its holdings in General Electric by 12.3% during the 1st quarter. Reilly Financial Advisors LLC now owns 24,483 shares of the conglomerate’s stock worth $730,000 after acquiring an additional 2,685 shares in the last quarter. Harvey Capital Management Inc. grew its holdings in General Electric by 50.0% during the 1st quarter. Harvey Capital Management Inc. now owns 30,000 shares of the conglomerate’s stock worth $894,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Harvey Investment Co. LLC grew its holdings in General Electric by 0.3% during the 1st quarter. Harvey Investment Co. LLC now owns 174,308 shares of the conglomerate’s stock worth $5,194,000 after acquiring an additional 471 shares in the last quarter. 54.67% of the stock is owned by institutional investors and hedge funds.

About General Electric

Analyst Recommendations for General Electric (NYSE:GE)

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