Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its price objective lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $235.00 to $228.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 35.71% from the company’s current price.

Several other equities analysts also recently weighed in on GE. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Down 0.7 %

NYSE:GE opened at $168.00 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm’s 50-day moving average price is $174.81 and its 200-day moving average price is $173.03. The company has a market capitalization of $181.83 billion, a PE ratio of 29.53, a P/E/G ratio of 1.66 and a beta of 1.17. General Electric has a 1-year low of $98.92 and a 1-year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

Several institutional investors have recently added to or reduced their stakes in GE. Principal Financial Group Inc. raised its stake in shares of General Electric by 3.8% in the third quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock worth $249,596,000 after purchasing an additional 48,543 shares during the last quarter. SMART Wealth LLC acquired a new position in General Electric in the 3rd quarter worth approximately $354,000. Lord Abbett & CO. LLC acquired a new stake in General Electric during the third quarter worth about $44,725,000. B. Riley Wealth Advisors Inc. raised its position in General Electric by 6.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,655 shares of the conglomerate’s stock valued at $3,862,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Tyro Capital Management LLC lifted its holdings in General Electric by 0.6% in the third quarter. Tyro Capital Management LLC now owns 70,607 shares of the conglomerate’s stock valued at $13,315,000 after acquiring an additional 429 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Company Profile

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.