General Electric Company (NYSE:GE) has been given a $22.00 price objective by equities researchers at Goldman Sachs Group, Inc. (The) in a research report issued to clients and investors on Tuesday. The brokerage currently has a “neutral” rating on the conglomerate’s stock. Goldman Sachs Group, Inc. (The)’s price target would indicate a potential upside of 21.18% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of General Electric in a research note on Friday, September 15th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research note on Wednesday, September 13th. UBS AG restated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Stifel Nicolaus dropped their target price on shares of General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Finally, Citigroup Inc. restated a “buy” rating and issued a $31.00 target price (down from $34.00) on shares of General Electric in a research note on Monday, July 24th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.25.
Shares of General Electric (NYSE GE) traded down $0.86 during trading hours on Tuesday, reaching $18.16. 38,873,029 shares of the company traded hands, compared to its average volume of 42,257,457. The company has a market cap of $164,940.00, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. General Electric has a one year low of $18.75 and a one year high of $32.38. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. analysts predict that General Electric will post 1.06 earnings per share for the current fiscal year.
In other news, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Ullmann Financial Group Inc. acquired a new stake in General Electric during the first quarter valued at $106,000. PHH Investments Ltd. grew its position in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the period. Ffcm LLC acquired a new stake in shares of General Electric in the second quarter valued at about $114,000. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric in the second quarter valued at about $113,000. Finally, Corbenic Partners LLC grew its position in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Institutional investors own 54.29% of the company’s stock.
About General Electric
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