General Electric’s (GE) “Buy” Rating Reiterated at Morningstar, Inc.
General Electric Company (NYSE:GE)‘s stock had its “buy” rating restated by analysts at Morningstar, Inc. in a report issued on Tuesday.
Several other brokerages have also issued reports on GE. Cowen and Company reiterated a “hold” rating and issued a $27.00 price target on shares of General Electric in a research note on Monday, July 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a research note on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the company a “sell” rating in a research note on Monday, July 24th. Goldman Sachs Group, Inc. (The) set a $27.00 price target on General Electric and gave the company a “neutral” rating in a research note on Monday, July 24th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $33.00 price target on shares of General Electric in a research note on Saturday, July 22nd. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.25.
Shares of General Electric (GE) traded down $0.86 during midday trading on Tuesday, reaching $18.16. The company’s stock had a trading volume of 38,873,029 shares, compared to its average volume of 42,257,457. The firm has a market cap of $164,940.00, a PE ratio of 16.53, a PEG ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a 52-week low of $18.75 and a 52-week high of $32.38.
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In related news, Director James S. Tisch purchased 100,000 shares of General Electric stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of General Electric by 2.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,082,962 shares of the conglomerate’s stock valued at $122,906,000 after purchasing an additional 105,612 shares during the period. Advantage Investment Management LLC lifted its stake in shares of General Electric by 183.5% in the 3rd quarter. Advantage Investment Management LLC now owns 137,389 shares of the conglomerate’s stock valued at $3,322,000 after purchasing an additional 88,920 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of General Electric by 3.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,275,534 shares of the conglomerate’s stock valued at $30,842,000 after purchasing an additional 37,942 shares during the period. B. Riley Financial Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $462,000. Finally, Engineers Gate Manager LP lifted its stake in shares of General Electric by 238.2% in the 3rd quarter. Engineers Gate Manager LP now owns 91,622 shares of the conglomerate’s stock valued at $2,215,000 after purchasing an additional 64,534 shares during the period. 54.29% of the stock is currently owned by institutional investors.
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