General Electric (NYSE:GE) Earns Outperform Rating from Royal Bank of Canada

General Electric (NYSE:GE)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $200.00 target price on the conglomerate’s stock. Royal Bank of Canada’s price target indicates a potential downside of 0.33% from the company’s previous close.

Several other analysts have also recently issued reports on GE. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company upped their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Performance

General Electric stock opened at $200.66 on Wednesday. The firm has a fifty day simple moving average of $174.49 and a two-hundred day simple moving average of $174.59. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $101.16 and a twelve month high of $207.65. The company has a market capitalization of $217.17 billion, a PE ratio of 35.26, a P/E/G ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. Research analysts expect that General Electric will post 4.23 EPS for the current year.

Insider Buying and Selling at General Electric

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

Institutional Trading of General Electric

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board grew its position in General Electric by 74.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 42,186 shares of the conglomerate’s stock worth $6,706,000 after purchasing an additional 18,064 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of General Electric by 2.0% in the second quarter. Evergreen Capital Management LLC now owns 6,636 shares of the conglomerate’s stock worth $1,055,000 after acquiring an additional 129 shares during the period. Royal Capital Wealth Management LLC increased its position in General Electric by 115.4% during the second quarter. Royal Capital Wealth Management LLC now owns 3,270 shares of the conglomerate’s stock valued at $520,000 after acquiring an additional 1,752 shares during the last quarter. Wescott Financial Advisory Group LLC bought a new position in General Electric in the second quarter valued at about $622,000. Finally, Zurich Insurance Group Ltd FI boosted its position in General Electric by 9.3% in the second quarter. Zurich Insurance Group Ltd FI now owns 764,018 shares of the conglomerate’s stock worth $121,456,000 after purchasing an additional 65,189 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Company Profile

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.