General Electric (GE) Receives $13.86 Average Price Target from Brokerages

Shares of General Electric (NYSE:GE) have earned an average rating of “Hold” from the twenty-seven research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.86.

Several analysts recently commented on the company. UBS Group cut General Electric to an “add” rating and set a $23.00 target price on the stock. in a research report on Tuesday, October 2nd. Cowen restated a “hold” rating and issued a $14.50 target price on shares of General Electric in a research report on Monday, October 1st. Morningstar set a $15.70 target price on General Electric and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Barclays restated a “neutral” rating and issued a $16.00 target price on shares of General Electric in a research report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. restated a “sell” rating and issued a $10.00 target price on shares of General Electric in a research report on Thursday, October 25th.

Shares of NYSE GE opened at $7.81 on Friday. The company has a market capitalization of $65.12 billion, a P/E ratio of 7.44, a P/E/G ratio of 2.14 and a beta of 0.90. General Electric has a 12-month low of $7.26 and a 12-month high of $19.39. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 0.67 earnings per share for the current year.

In other news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $9.73 per share, for a total transaction of $2,189,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Alexander Dimitrief purchased 10,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average price of $9.48 per share, for a total transaction of $94,800.00. Following the completion of the transaction, the senior vice president now owns 103,075 shares in the company, valued at approximately $977,151. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 295,000 shares of company stock worth $2,783,250. 1.12% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. IFM Investors Pty Ltd boosted its stake in shares of General Electric by 10.7% in the 1st quarter. IFM Investors Pty Ltd now owns 268,480 shares of the conglomerate’s stock valued at $3,619,000 after purchasing an additional 26,021 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of General Electric by 1.6% in the 1st quarter. California Public Employees Retirement System now owns 23,630,616 shares of the conglomerate’s stock valued at $318,541,000 after purchasing an additional 364,978 shares in the last quarter. 10 15 Associates Inc. boosted its stake in shares of General Electric by 3.6% in the 1st quarter. 10 15 Associates Inc. now owns 398,407 shares of the conglomerate’s stock valued at $5,371,000 after purchasing an additional 13,925 shares in the last quarter. Wealth Advisors of Tampa Bay LLC boosted its position in General Electric by 6.7% during the 1st quarter. Wealth Advisors of Tampa Bay LLC now owns 287,293 shares of the conglomerate’s stock valued at $3,875,000 after buying an additional 17,992 shares during the period. Finally, First Allied Advisory Services Inc. boosted its position in General Electric by 27.4% during the 1st quarter. First Allied Advisory Services Inc. now owns 343,207 shares of the conglomerate’s stock valued at $4,601,000 after buying an additional 73,880 shares during the period. Institutional investors own 54.48% of the company’s stock.

General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Analyst Recommendations for General Electric (NYSE:GE)

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