General Electric Company (NYSE:GE)‘s stock had its “equal weight” rating reiterated by analysts at Morgan Stanley in a report released on Monday, Marketbeat Ratings reports. They presently have a $27.00 price target on the conglomerate’s stock. Morgan Stanley’s price target would suggest a potential upside of 0.41% from the stock’s previous close.
GE has been the topic of several other reports. Deutsche Bank AG reiterated a “neutral” rating and set a $28.00 price target on shares of General Electric in a research report on Wednesday, April 5th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 price objective for the company. in a research note on Tuesday, April 4th. Credit Suisse Group reissued a “buy” rating and set a $34.00 price objective on shares of General Electric in a research note on Tuesday, April 11th. Cowen and Company reissued a “hold” rating and set a $30.00 price objective on shares of General Electric in a research note on Thursday, April 20th. Finally, Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus target price of $30.75.
General Electric (GE) opened at 26.89 on Monday. The firm’s 50-day moving average price is $27.51 and its 200 day moving average price is $29.18. The firm has a market cap of $233.51 billion, a price-to-earnings ratio of 27.38 and a beta of 1.22. General Electric has a 52-week low of $25.85 and a 52-week high of $33.00.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $27.66 billion for the quarter, compared to the consensus estimate of $26.37 billion. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. On average, equities research analysts forecast that General Electric will post $1.62 EPS for the current year.
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In related news, Chairman Jeffrey R. Immelt bought 100,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the acquisition, the chairman now directly owns 2,561,926 shares in the company, valued at $71,913,262.82. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marijn E. Dekkers bought 20,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were bought at an average price of $29.90 per share, for a total transaction of $598,000.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $29,900. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 140,000 shares of company stock worth $3,964,600. Corporate insiders own 0.36% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC raised its position in General Electric by 10.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 865,127 shares of the conglomerate’s stock valued at $27,338,000 after buying an additional 84,597 shares during the period. CWA Asset Management Group LLC raised its position in General Electric by 20.2% in the fourth quarter. CWA Asset Management Group LLC now owns 100,336 shares of the conglomerate’s stock valued at $3,171,000 after buying an additional 16,828 shares during the period. Hunter Associates Investment Management LLC raised its position in General Electric by 2.7% in the fourth quarter. Hunter Associates Investment Management LLC now owns 120,757 shares of the conglomerate’s stock valued at $3,816,000 after buying an additional 3,171 shares during the period. Capital Analysts LLC raised its position in General Electric by 1.9% in the fourth quarter. Capital Analysts LLC now owns 40,070 shares of the conglomerate’s stock valued at $1,266,000 after buying an additional 729 shares during the period. Finally, FMR LLC raised its position in General Electric by 0.7% in the fourth quarter. FMR LLC now owns 130,741,961 shares of the conglomerate’s stock valued at $4,131,446,000 after buying an additional 900,672 shares during the period. Institutional investors own 54.24% of the company’s stock.
General Electric Company Profile
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