General Electric (NYSE:GE) Stock Price Expected to Rise, Bank of America Analyst Says

General Electric (NYSE:GEGet Free Report) had its price objective upped by equities research analysts at Bank of America from $200.00 to $225.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. Bank of America‘s price objective indicates a potential upside of 15.71% from the stock’s current price.

Several other analysts have also weighed in on the company. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group lifted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.73.

Read Our Latest Analysis on General Electric

General Electric Price Performance

Shares of NYSE GE opened at $194.46 on Monday. The firm has a market cap of $210.46 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $175.67 and a two-hundred day moving average price of $175.38. General Electric has a fifty-two week low of $103.75 and a fifty-two week high of $207.65.

General Electric (NYSE:GEGet Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Sell-side analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

Insider Transactions at General Electric

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

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently bought and sold shares of GE. Angeles Wealth Management LLC boosted its stake in shares of General Electric by 6.0% during the 4th quarter. Angeles Wealth Management LLC now owns 3,280 shares of the conglomerate’s stock worth $547,000 after acquiring an additional 187 shares in the last quarter. Focused Wealth Management Inc lifted its holdings in shares of General Electric by 1.1% during the fourth quarter. Focused Wealth Management Inc now owns 10,854 shares of the conglomerate’s stock valued at $1,810,000 after purchasing an additional 119 shares during the last quarter. Washburn Capital Management Inc. boosted its position in shares of General Electric by 148.6% in the 4th quarter. Washburn Capital Management Inc. now owns 2,794 shares of the conglomerate’s stock valued at $466,000 after purchasing an additional 1,670 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in General Electric in the 4th quarter worth about $196,000. Finally, Kestra Private Wealth Services LLC raised its holdings in General Electric by 48.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 32,250 shares of the conglomerate’s stock worth $5,379,000 after buying an additional 10,559 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Company Profile

(Get Free Report)

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.

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