General Electric (NYSE:GE) had its target price decreased by equities research analysts at Citigroup from $22.00 to $21.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Citigroup’s target price suggests a potential upside of 54.30% from the company’s previous close.
Several other research firms have also commented on GE. JPMorgan Chase & Co. set a $11.00 price target on General Electric and gave the stock a “sell” rating in a research report on Friday, April 27th. UBS Group restated a “neutral” rating and set a $16.00 price target on shares of General Electric in a research report on Thursday, May 17th. Credit Suisse Group restated a “neutral” rating and set a $15.00 price target on shares of General Electric in a research report on Friday, April 27th. William Blair restated a “buy” rating on shares of General Electric in a research report on Monday, April 23rd. Finally, Stifel Nicolaus lowered their price target on General Electric from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, April 3rd. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. General Electric presently has an average rating of “Hold” and a consensus target price of $17.44.
GE stock opened at $13.61 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.76 and a debt-to-equity ratio of 1.44. The firm has a market cap of $120.08 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01. General Electric has a 52-week low of $12.61 and a 52-week high of $27.59.
General Electric (NYSE:GE) last posted its earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. equities research analysts anticipate that General Electric will post 0.95 earnings per share for the current fiscal year.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total transaction of $58,245,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.12% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC acquired a new position in General Electric in the 1st quarter valued at about $116,000. Santori & Peters Inc. acquired a new position in General Electric in the 4th quarter valued at about $120,000. Archford Capital Strategies LLC acquired a new position in General Electric in the 1st quarter valued at about $121,000. Blue Chip Wealth Management Inc. acquired a new position in General Electric in the 1st quarter valued at about $135,000. Finally, Harborview Advisors LLC acquired a new position in General Electric in the 1st quarter valued at about $137,000. 53.83% of the stock is owned by institutional investors.
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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