General Electric (GE) – Research Analysts’ Weekly Ratings Updates

General Electric (NYSE: GE) has recently received a number of price target changes and ratings updates:

• 3/20/2024 – General Electric is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/12/2024 – General Electric is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/11/2024 – General Electric had its price target raised by analysts at Jefferies Financial Group Inc. from $180.00 to $195.00.
• 3/8/2024 – General Electric was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $180.00 price target on the stock, up previously from $166.00.
• 3/5/2024 – General Electric had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
• 3/4/2024 – General Electric had its price target raised by analysts at JPMorgan Chase & Co. from $134.00 to $166.00. They now have a “neutral” rating on the stock.
• 3/1/2024 – General Electric had its price target raised by analysts at Royal Bank of Canada from $148.00 to $170.00. They now have an “outperform” rating on the stock.
• 2/29/2024 – General Electric had its price target raised by analysts at Barclays PLC from $153.00 to $181.00. They now have an “overweight” rating on the stock.
• 2/1/2024 – General Electric was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

General Electric Price Performance

Shares of NYSE GE traded up $0.57 during midday trading on Tuesday, hitting $174.06. 1,335,533 shares of the company’s stock were exchanged, compared to its average volume of 5,899,554. General Electric has a 12-month low of $92.11 and a 12-month high of $177.50. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $190.29 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.32 and a beta of 1.28. The business’s fifty day moving average price is $148.73 and its two-hundred day moving average price is $128.14.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same period last year, the business earned $1.24 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.57 EPS for the current fiscal year.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently modified their holdings of GE. Great Valley Advisor Group Inc. increased its holdings in shares of General Electric by 1.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 74 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after purchasing an additional 75 shares during the period. Forte Capital LLC ADV increased its holdings in shares of General Electric by 2.1% in the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after purchasing an additional 83 shares during the period. Atlas Brown Inc. grew its holdings in General Electric by 1.0% during the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after acquiring an additional 85 shares during the period. Finally, Capital Analysts LLC grew its holdings in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.