General Electric (NYSE:GE) PT Raised to $211.00

General Electric (NYSE:GE) had its price target raised by research analysts at The Goldman Sachs Group from $190.00 to $211.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s price target points to a potential upside of 30.84% from the stock’s current price.

A number of other research firms have also weighed in on GE. Barclays cut their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Jefferies Financial Group cut their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, Bank of America lowered their target price on shares of General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.00.

General Electric Stock Performance

Shares of GE opened at $161.26 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $176.30 billion, a P/E ratio of 52.87, a PEG ratio of 3.05 and a beta of 1.29. The company has a 50-day moving average of $160.45 and a two-hundred day moving average of $135.73. General Electric has a 12-month low of $76.87 and a 12-month high of $163.65.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, research analysts predict that General Electric will post 3.95 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GE. Norges Bank acquired a new stake in General Electric in the fourth quarter valued at $1,193,159,000. WCM Investment Management LLC acquired a new stake in General Electric in the fourth quarter valued at $520,488,000. Brown Advisory Inc. raised its holdings in General Electric by 265.7% in the third quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after acquiring an additional 2,185,793 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in General Electric in the fourth quarter valued at $268,519,000. Finally, International Assets Investment Management LLC raised its holdings in General Electric by 11,947.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock valued at $201,218,000 after acquiring an additional 1,563,484 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

About General Electric

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.