Deutsche Bank Increases General Electric (NYSE:GE) Price Target to $12.00

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.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The business had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that General Electric will post 0.61 earnings per share for the current year.

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.

See Also: Buy-Side Analysts

Analyst Recommendations for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit