UBS Group Forecasts Strong Price Appreciation for General Electric (NYSE:GE) Stock

General Electric (NYSE:GE) had its price target boosted by equities research analysts at UBS Group from $215.00 to $235.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. UBS Group’s target price points to a potential upside of 19.41% from the stock’s previous close.

GE has been the subject of several other reports. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $205.80.

General Electric Trading Down 2.0 %

Shares of GE stock opened at $196.81 on Friday. The firm’s 50-day simple moving average is $175.33 and its 200-day simple moving average is $175.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $103.75 and a 1-year high of $207.65. The firm has a market cap of $213.00 billion, a P/E ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly 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 net margin of 11.48% and a return on equity of 18.93%. As a group, equities analysts forecast that General Electric will post 4.23 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of General Electric

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC boosted its position in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the period. Legal & General Group Plc grew its stake in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the last quarter. Jennison Associates LLC increased its position in General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after buying an additional 106,891 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in General Electric by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after buying an additional 413,388 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

About General Electric

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.