General Electric (NYSE:GE) had its price target dropped by equities researchers at Royal Bank of Canada to $17.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “sector perform” rating on the conglomerate’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 5.39% from the stock’s current price.
Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. set a $16.00 price target on General Electric and gave the company a “sell” rating in a research report on Wednesday. Goldman Sachs Group set a $18.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Wednesday. Morningstar set a $23.50 target price on General Electric and gave the stock a “buy” rating in a research report on Tuesday. UBS Group began coverage on General Electric in a research report on Tuesday. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Bank of America lowered General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.25.
General Electric (GE) traded down $0.05 during trading hours on Thursday, reaching $16.13. The company had a trading volume of 88,830,952 shares, compared to its average volume of 94,880,000. The firm has a market capitalization of $139,880.00, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.97 and a beta of 1.07. General Electric has a 52-week low of $15.80 and a 52-week high of $30.59. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. sell-side analysts anticipate that General Electric will post 1.02 earnings per share for the current year.
In related news, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Advisors Inc. boosted its stake in General Electric by 11.1% during the 4th quarter. Cambridge Advisors Inc. now owns 37,009 shares of the conglomerate’s stock valued at $646,000 after purchasing an additional 3,686 shares during the period. Enterprise Financial Services Corp boosted its stake in General Electric by 7.2% during the 4th quarter. Enterprise Financial Services Corp now owns 72,582 shares of the conglomerate’s stock valued at $1,267,000 after purchasing an additional 4,868 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in General Electric by 8.6% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 279,858 shares of the conglomerate’s stock valued at $4,884,000 after purchasing an additional 22,104 shares during the period. Eagle Ridge Investment Management boosted its stake in General Electric by 21.6% during the 4th quarter. Eagle Ridge Investment Management now owns 37,906 shares of the conglomerate’s stock valued at $661,000 after purchasing an additional 6,744 shares during the period. Finally, Proffitt & Goodson Inc. boosted its stake in General Electric by 69.5% during the 4th quarter. Proffitt & Goodson Inc. now owns 73,774 shares of the conglomerate’s stock valued at $1,287,000 after purchasing an additional 30,245 shares during the period. Institutional investors own 55.62% of the company’s stock.
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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.