General Electric (NYSE:GE) PT Raised to $180.00

General Electric (NYSE:GE) had its price objective boosted by equities researchers at Bank of America from $165.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Bank of America‘s target price would indicate a potential upside of 13.39% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. StockNews.com assumed coverage on shares of General Electric in a research report on Sunday. They issued a “hold” rating on the stock. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and raised their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Vertical Research initiated coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. Barclays cut their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, 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 report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.71.

General Electric Price Performance

Shares of GE stock traded down $3.87 during mid-day trading on Wednesday, reaching $158.75. The company’s stock had a trading volume of 6,714,725 shares, compared to its average volume of 8,117,630. The firm’s 50-day moving average is $159.94 and its two-hundred day moving average is $135.39. The company has a market cap of $173.56 billion, a P/E ratio of 18.93, a PEG ratio of 2.96 and a beta of 1.29. General Electric has a 1-year low of $76.87 and a 1-year high of $163.65. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that General Electric will post 3.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 22,055 shares of the company’s 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 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 SEC, which is available at the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s 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 sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Several hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new position in shares of General Electric during the third quarter worth approximately $224,000. Summit Global Investments acquired a new position in General Electric in the 3rd quarter valued at $218,000. RFG Advisory LLC grew its holdings in shares of General Electric by 9.6% during the 3rd quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate’s stock worth $353,000 after purchasing an additional 280 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of General Electric by 6.9% in the third quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock worth $2,923,000 after purchasing an additional 1,706 shares during the period. Finally, Avior Wealth Management LLC raised its stake in General Electric by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 794 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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.