General Electric (NYSE:GE) has been given a $20.00 target price by analysts at Royal Bank of Canada in a report issued on Wednesday. The firm currently has a “neutral” rating on the conglomerate’s stock. Royal Bank of Canada’s target price indicates a potential upside of 21.65% from the company’s current price.
Several other analysts have also issued reports on the company. Goldman Sachs Group set a $22.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. JPMorgan Chase & Co. set a $17.00 price objective on General Electric and gave the stock a “sell” rating in a report on Wednesday, November 15th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, October 23rd. Stifel Nicolaus set a $22.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Finally, Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective for the company in a report on Monday, October 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.53.
Shares of General Electric (GE) traded down $0.45 during trading hours on Wednesday, hitting $16.44. The company had a trading volume of 167,170,173 shares, compared to its average volume of 89,900,000. 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 twelve month low of $15.80 and a twelve month high of $30.59. The stock has a market capitalization of $142,570.00, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 3.02 and a beta of 1.07.
In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $17.94 per share, with a total value of $986,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John Leonard Flannery purchased 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the transaction, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.
Several large investors have recently modified their holdings of the company. Peak Financial Management Inc. grew its position in shares of General Electric by 0.3% in the second 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 last quarter. Cutter & CO Brokerage Inc. grew its position in General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after buying an additional 67 shares in the last quarter. NorthRock Partners LLC grew its position in General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after buying an additional 80 shares in the last quarter. Valmark Advisers Inc. grew its position in General Electric by 1.4% during the second quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock worth $265,000 after buying an additional 138 shares in the last quarter. Finally, Shapiro Capital Management LLC grew its position in General Electric by 0.8% during the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock worth $510,000 after buying an additional 147 shares in the last quarter. 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.
