Goldman Sachs Group Analysts Give General Electric (GE) a $19.00 Price Target

Goldman Sachs Group set a $19.00 price target on General Electric (NYSE:GE) in a research report report published on Thursday morning. The brokerage currently has a neutral rating on the conglomerate’s stock.

Several other brokerages have also issued reports on GE. Cowen reaffirmed a hold rating and issued a $24.00 target price on shares of General Electric in a research note on Monday, August 7th. J P Morgan Chase & Co reaffirmed an underweight rating and issued a $22.00 target price on shares of General Electric in a research note on Thursday, September 7th. Vetr lowered shares of General Electric from a hold rating to a sell rating and set a $23.72 target price on the stock. in a research note on Monday, September 25th. Credit Suisse Group reissued an outperform rating and set a $30.00 price objective (down previously from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Finally, Morgan Stanley reduced their price objective on shares of General Electric from $26.00 to $25.00 and set an equal weight rating on the stock in a research note on Monday, October 2nd. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $24.31.

Shares of General Electric (GE) traded down $0.41 during midday trading on Thursday, hitting $17.88. 82,017,768 shares of the stock traded hands, compared to its average volume of 85,478,192. The company has a market cap of $155,056.88, a price-to-earnings ratio of 14.42, a PEG ratio of 1.94 and a beta of 1.07. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a one year low of $17.46 and a one year high of $32.38.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. equities research analysts expect that General Electric will post 1.07 EPS for the current year.

In related news, Director Steven M. Mollenkopf bought 5,500 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock worth $2,183,220 in the last three months. 0.36% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. K.J. Harrison & Partners Inc raised its holdings in shares of General Electric by 16.3% in the first quarter. K.J. Harrison & Partners Inc now owns 92,995 shares of the conglomerate’s stock valued at $2,771,000 after purchasing an additional 13,000 shares during the last quarter. BTC Capital Management Inc. raised its holdings in shares of General Electric by 1.1% in the first quarter. BTC Capital Management Inc. now owns 134,796 shares of the conglomerate’s stock valued at $4,018,000 after purchasing an additional 1,411 shares during the last quarter. Selway Asset Management raised its holdings in shares of General Electric by 1.6% in the first quarter. Selway Asset Management now owns 61,038 shares of the conglomerate’s stock valued at $1,819,000 after purchasing an additional 975 shares during the last quarter. Pegasus Partners Ltd. raised its holdings in shares of General Electric by 2.3% in the first quarter. Pegasus Partners Ltd. now owns 79,135 shares of the conglomerate’s stock valued at $2,358,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Access Financial Services Inc. raised its holdings in shares of General Electric by 81.5% in the first quarter. Access Financial Services Inc. now owns 53,846 shares of the conglomerate’s stock valued at $1,605,000 after purchasing an additional 24,180 shares during the last quarter. Hedge funds and other institutional investors own 55.76% of the company’s stock.

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