Bank of America Increases General Electric (NYSE:GE) Price Target to $180.00

General Electric (NYSE:GE) had its price target increased by research analysts at Bank of America from $165.00 to $180.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. Bank of America‘s price target would suggest a potential upside of 11.62% from the company’s current price.

GE has been the topic of a number of other reports. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com began coverage on shares of General Electric in a report on Sunday, April 21st. They set a “hold” rating on the stock. Finally, Jefferies Financial Group cut their price target on shares of General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.00.

General Electric Stock Up 1.3 %

NYSE GE opened at $161.26 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. The company’s 50 day simple moving average is $160.45 and its 200 day simple moving average is $135.73. General Electric has a 12 month low of $76.87 and a 12 month high of $163.65. The company has a market capitalization of $176.30 billion, a P/E ratio of 52.87, a PEG ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts expect that General Electric will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Several large investors have recently added to or reduced their stakes in the business. Halpern Financial Inc. boosted its holdings in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of General Electric during the 4th quarter worth $27,000. CGC Financial Services LLC boosted its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares during the period. Capital Analysts LLC boosted its holdings in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the period. Finally, Horrell Capital Management Inc. bought a new stake in shares of General Electric during the 1st quarter worth $44,000. 74.77% of the stock is owned by institutional investors.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.