General Electric (NYSE:GE) received a $23.50 price objective from analysts at Morningstar in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the conglomerate’s stock. Morningstar’s price target indicates a potential upside of 41.31% from the stock’s current price.
A number of other brokerages have also recently weighed in on GE. Vertical Research set a $18.00 price objective on shares of General Electric and gave the stock a “hold” rating in a report on Tuesday, January 16th. Vetr cut shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price objective on the stock. in a report on Monday, September 25th. UBS Group began coverage on shares of General Electric in a report on Tuesday. They issued a “neutral” rating and a $17.00 price objective on the stock. Bank of America cut shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a report on Monday. Finally, JPMorgan Chase & Co. restated a “sell” rating and issued a price objective on shares of General Electric in a report on Monday, January 15th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.59.
Shares of General Electric (GE) traded up $0.46 during trading hours on Tuesday, hitting $16.63. 38,672,107 shares of the stock traded hands, compared to its average volume of 118,120,758. The company has a market capitalization of $144,170.00, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric has a 52-week low of $15.80 and a 52-week high of $30.59.
In other news, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, with a total value of $100,320.00. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $100,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francisco Dsouza acquired 55,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock valued at $2,183,220 in the last quarter. 0.36% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Peak Financial Management Inc. lifted its stake in shares of General Electric by 0.3% in the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after purchasing an additional 25 shares during the period. BerganKDV Wealth Management LLC raised its position in General Electric by 0.3% during the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after acquiring an additional 36 shares during the period. Puplava Financial Services Inc. raised its position in General Electric by 0.4% during the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after acquiring an additional 41 shares during the period. Financial Management Professionals Inc. raised its position in General Electric by 0.5% during the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the conglomerate’s stock worth $274,000 after acquiring an additional 46 shares during the period. Finally, Barry Investment Advisors LLC raised its position in General Electric by 0.7% during the third quarter. Barry Investment Advisors LLC now owns 6,919 shares of the conglomerate’s stock worth $205,000 after acquiring an additional 48 shares during the period. 55.62% of the stock is currently owned by institutional investors.
General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.