General Electric (GE) Upgraded to Buy at UBS Group

General Electric (NYSE:GE) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, 99wallstreet.com reports. The brokerage presently has a $13.00 price objective on the conglomerate’s stock. UBS Group’s price target points to a potential upside of 41.30% from the company’s current price.

A number of other research firms also recently issued reports on GE. JPMorgan Chase & Co. set a $10.00 price target on General Electric and gave the company a “sell” rating in a research report on Wednesday. ValuEngine downgraded General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Citigroup lowered their price target on General Electric from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday. Goldman Sachs Group set a $14.00 price target on General Electric and gave the company a “neutral” rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued a “buy” rating and set a $15.00 price target on shares of General Electric in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.94.

General Electric stock traded down $0.38 during trading on Wednesday, hitting $9.20. The company’s stock had a trading volume of 7,179,685 shares, compared to its average volume of 110,524,136. The firm has a market capitalization of $88.39 billion, a P/E ratio of 8.80, a PEG ratio of 1.99 and a beta of 0.96. General Electric has a 1-year low of $9.54 and a 1-year high of $20.75. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 2.40.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, equities analysts predict that General Electric will post 0.9 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of GE. HC Financial Advisors Inc. purchased a new stake in shares of General Electric in the fourth quarter worth about $281,000. Boston Partners boosted its position in shares of General Electric by 22.5% in the first quarter. Boston Partners now owns 454,855 shares of the conglomerate’s stock worth $6,131,000 after buying an additional 83,579 shares during the period. DDD Partners LLC lifted its stake in shares of General Electric by 5.2% in the first quarter. DDD Partners LLC now owns 246,531 shares of the conglomerate’s stock worth $3,323,000 after acquiring an additional 12,151 shares in the last quarter. Central Securities Corp lifted its stake in shares of General Electric by 62.9% in the first quarter. Central Securities Corp now owns 500,000 shares of the conglomerate’s stock worth $6,740,000 after acquiring an additional 193,000 shares in the last quarter. Finally, DT Investment Partners LLC lifted its stake in shares of General Electric by 36.2% in the first quarter. DT Investment Partners LLC now owns 188,963 shares of the conglomerate’s stock worth $2,547,000 after acquiring an additional 50,242 shares in the last quarter. 53.75% of the stock is owned by institutional investors.

About General Electric

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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