General Electric Company (GE) Given a $24.00 Price Target at UBS AG

General Electric Company (NYSE:GE) received a $24.00 price target from equities researchers at UBS AG in a research report issued to clients and investors on Monday. The brokerage currently has a “neutral” rating on the conglomerate’s stock. UBS AG’s price objective indicates a potential upside of 0.71% from the company’s previous close.

Several other analysts have also commented on the stock. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price for the company. in a research note on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Friday, July 7th. Credit Suisse Group reissued an “outperform” rating and set a $33.00 target price on shares of General Electric in a research note on Saturday, July 22nd. J P Morgan Chase & Co reissued an “underweight” rating and set a $22.00 target price on shares of General Electric in a research note on Thursday, September 7th. Finally, Citigroup Inc. reissued a “buy” rating and set a $34.00 target price (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.51.

General Electric (NYSE GE) opened at 23.83 on Monday. The firm has a market capitalization of $206.32 billion, a P/E ratio of 29.03 and a beta of 1.19. General Electric has a 12 month low of $22.10 and a 12 month high of $32.38. The company’s 50 day moving average price is $24.11 and its 200 day moving average price is $26.55.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 5.38% and a return on equity of 10.18%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter last year, the business earned $0.32 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that General Electric will post $1.53 EPS for the current year.

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In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the transaction, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after purchasing an additional 3,297,890 shares during the last quarter. BlackRock Inc. increased its stake in shares of General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital World Investors increased its stake in shares of General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares during the last quarter. Capital Research Global Investors increased its stake in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. Hedge funds and other institutional investors own 54.67% of the company’s stock.

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