General Electric (NYSE:GE) has been given a $18.00 price target by equities research analysts at Goldman Sachs Group in a research note issued on Wednesday. The brokerage currently has a “neutral” rating on the conglomerate’s stock. Goldman Sachs Group’s price target points to a potential upside of 11.59% from the company’s previous close.
Several other analysts also recently issued reports on GE. Vetr upgraded General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 price objective on the stock in a research report on Monday, October 2nd. Morgan Stanley dropped their target price on General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, October 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $30.00 target price (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $20.00 target price (down from $22.00) on shares of General Electric in a research note on Monday, October 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 target price on shares of General Electric in a research note on Thursday, October 12th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.25.
Shares of General Electric (NYSE:GE) traded down $0.05 during trading hours on Wednesday, hitting $16.13. The stock had a trading volume of 87,681,152 shares, compared to its average volume of 95,680,000. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53. 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 $139,880.00, a P/E ratio of 14.94, a P/E/G ratio of 2.97 and a beta of 1.07.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The company had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. sell-side analysts forecast that General Electric will post 1.02 EPS for the current year.
In other news, Director Steven M. Mollenkopf purchased 5,500 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders have acquired 120,500 shares of company stock valued at $2,183,220 over the last 90 days. 0.36% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in shares of General Electric by 21.3% in the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after buying an additional 593,686 shares during the period. Warren Averett Asset Management LLC boosted its position in shares of General Electric by 7.0% in the second quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after buying an additional 6,799 shares during the period. Palouse Capital Management Inc. boosted its position in shares of General Electric by 5.4% in the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after buying an additional 9,755 shares during the period. Destination Wealth Management boosted its position in shares of General Electric by 5.6% in the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after buying an additional 41,100 shares during the period. Finally, Rockland Trust Co. boosted its position in shares of General Electric by 8.6% in the second quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after buying an additional 16,309 shares during the period. Institutional investors own 55.62% of the company’s stock.
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.