General Electric (NYSE:GE) Price Target Cut to $175.00 by Analysts at Barclays

General Electric (NYSE:GEGet Free Report) had its price objective dropped by equities researchers at Barclays from $181.00 to $175.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the conglomerate’s stock. Barclays‘s price target points to a potential upside of 19.48% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price objective on General Electric from $148.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Jefferies Financial Group lifted their price target on General Electric from $180.00 to $195.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. decreased their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com began coverage on shares of General Electric in a report on Thursday, March 28th. They set a “hold” rating for the company. Finally, Citigroup upped their price target on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.38.

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General Electric Price Performance

Shares of NYSE GE traded up $10.00 during trading on Wednesday, hitting $146.47. 12,318,612 shares of the company were exchanged, compared to its average volume of 6,384,480. The firm’s fifty day moving average price is $154.45 and its 200 day moving average price is $130.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The company has a market cap of $160.13 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.35 and a beta of 1.29. General Electric has a 1 year low of $93.47 and a 1 year high of $180.36.

General Electric (NYSE:GEGet Free Report) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts expect that General Electric will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were 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 directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following 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. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the period. State Street Corp grew its holdings in General Electric by 3.5% during the 2nd quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock valued at $5,515,327,000 after purchasing an additional 1,717,793 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after acquiring an additional 13,427,079 shares during the last quarter. Northern Trust Corp increased its holdings in General Electric by 4.0% during the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after purchasing an additional 410,061 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of General Electric in the fourth quarter worth $1,193,159,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

About General Electric

(Get Free Report)

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.

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