Northcoast Research Begins Coverage on General Electric (NYSE:GE)

Northcoast Research assumed coverage on shares of General Electric (NYSE:GE) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating on the conglomerate’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Trading Up 0.3 %

NYSE GE opened at $172.85 on Tuesday. General Electric has a 12 month low of $100.95 and a 12 month high of $194.80. The stock has a 50-day simple moving average of $174.32 and a 200 day simple moving average of $173.28. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $187.07 billion, a PE ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. General Electric’s revenue was up 5.8% on a year-over-year basis. Research analysts forecast that General Electric will post 4.24 EPS for the current year.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC boosted its holdings in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the third quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the third quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter worth approximately $28,000. 74.77% of the stock is owned by 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.