General Electric (NYSE:GE) Price Target Raised to $225.00

General Electric (NYSE:GE) had its price objective hoisted by equities researchers at Bank of America from $200.00 to $225.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Bank of America‘s price objective suggests a potential upside of 16.06% from the company’s current price.

GE has been the subject of several other reports. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group upped their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Performance

NYSE GE traded down $2.88 during mid-day trading on Monday, reaching $193.87. 2,801,682 shares of the stock were exchanged, compared to its average volume of 6,290,573. The company has a market capitalization of $209.82 billion, a P/E ratio of 34.18, a P/E/G ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average is $175.33 and its 200-day moving average is $175.15. General Electric has a 1 year low of $103.75 and a 1 year high of $207.65.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, equities research analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction 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 approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $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. 0.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Electric

Hedge funds have recently bought and sold shares of the company. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the 3rd quarter worth approximately $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds 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.