General Electric (NYSE:GE) had its price objective boosted by investment analysts at Deutsche Bank from $11.00 to $12.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the conglomerate’s stock. Deutsche Bank’s price target points to a potential upside of 11.21% from the stock’s current price.
GE has been the subject of several other research reports. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target for the company in a research report on Friday, November 1st. William Blair reiterated a “buy” rating on shares of General Electric in a report on Friday, August 16th. Royal Bank of Canada reissued a “buy” rating and set a $13.00 price objective on shares of General Electric in a research note on Wednesday, October 30th. Citigroup set a $14.00 price objective on General Electric and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, ValuEngine downgraded General Electric from a “hold” rating to a “sell” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $10.42.
GE opened at $10.79 on Wednesday. General Electric has a 12 month low of $6.66 and a 12 month high of $11.84. The business has a 50-day moving average of $10.55 and a two-hundred day moving average of $9.77. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The stock has a market capitalization of $94.23 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17.
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in General Electric by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock worth $6,805,671,000 after purchasing an additional 8,989,832 shares during the period. BlackRock Inc. grew its stake in shares of General Electric by 1.9% in the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after buying an additional 9,483,976 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of General Electric by 26.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after buying an additional 76,193,032 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of General Electric by 0.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 112,158,363 shares of the conglomerate’s stock valued at $1,177,663,000 after buying an additional 364,061 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of General Electric by 0.5% during the 2nd quarter. Northern Trust Corp now owns 102,577,946 shares of the conglomerate’s stock valued at $1,077,069,000 after buying an additional 498,587 shares during the period. 60.22% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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