Royal Bank Of Canada Reiterates $25.00 Price Target for General Electric Company (GE)
General Electric Company (NYSE:GE) has been assigned a $25.00 target price by equities researchers at Royal Bank Of Canada in a note issued to investors on Monday. The firm currently has a “buy” rating on the conglomerate’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 4.91% from the company’s previous close.
Other analysts have also issued research reports about the company. Citigroup Inc. set a $28.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday. UBS AG downgraded General Electric from a “buy” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $24.00 in a research report on Monday. Morgan Stanley downgraded General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 target price on the stock. in a research report on Monday. Deutsche Bank AG set a $21.00 target price on General Electric and gave the company a “sell” rating in a research report on Monday. Finally, Bank of America Corporation raised General Electric from a “neutral” rating to a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $26.81.
General Electric (GE) traded down 5.12% during mid-day trading on Monday, reaching $22.61. The company’s stock had a trading volume of 58,895,153 shares. The stock has a market cap of $195.76 billion, a PE ratio of 27.54 and a beta of 1.19. The company has a 50 day moving average of $24.11 and a 200-day moving average of $26.55. General Electric has a 52-week low of $22.10 and a 52-week high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (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 the consensus estimate of $32.51 billion. General Electric had a net margin of 5.38% and a return on equity of 10.18%. General Electric’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities analysts forecast that General Electric will post $1.53 earnings per share for the current year.
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In other news, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now directly owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GE. Asset Planning Services Ltd. lifted its stake in shares of General Electric by 18.4% in the 1st quarter. Asset Planning Services Ltd. now owns 14,009 shares of the conglomerate’s stock valued at $417,000 after acquiring an additional 2,182 shares during the last quarter. Howland Capital Management LLC lifted its stake in shares of General Electric by 0.8% in the 1st quarter. Howland Capital Management LLC now owns 1,298,709 shares of the conglomerate’s stock valued at $38,702,000 after acquiring an additional 10,742 shares during the last quarter. Reilly Financial Advisors LLC lifted its stake in shares of General Electric by 12.3% in the 1st quarter. Reilly Financial Advisors LLC now owns 24,483 shares of the conglomerate’s stock valued at $730,000 after acquiring an additional 2,685 shares during the last quarter. Harvey Capital Management Inc. lifted its stake in shares of General Electric by 50.0% in the 1st quarter. Harvey Capital Management Inc. now owns 30,000 shares of the conglomerate’s stock valued at $894,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Harvey Investment Co. LLC lifted its stake in shares of General Electric by 0.3% in the 1st quarter. Harvey Investment Co. LLC now owns 174,308 shares of the conglomerate’s stock valued at $5,194,000 after acquiring an additional 471 shares during the last quarter. Institutional investors own 54.67% of the company’s stock.
About General Electric
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