General Electric Company (NYSE:GE) had its price objective cut by research analysts at Deutsche Bank AG from $18.00 to $15.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “sell” rating on the conglomerate’s stock. Deutsche Bank AG’s target price points to a potential downside of 15.87% from the company’s previous close.
Several other research analysts have also recently weighed in on GE. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Morgan Stanley cut shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price objective for the company. in a research report on Monday, October 23rd. Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research report on Tuesday, October 24th. Vetr upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $21.74 price objective for the company in a research report on Monday, October 23rd. Finally, Argus dropped their price objective on shares of General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 18th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.49.
Shares of General Electric (NYSE GE) traded down $0.15 on Tuesday, hitting $17.83. The stock had a trading volume of 77,642,971 shares, compared to its average volume of 98,440,000. The firm has a market cap of $154,620.00, a P/E ratio of 14.69, a P/E/G ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a fifty-two week low of $17.46 and a fifty-two week high of $32.38.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. sell-side analysts anticipate that General Electric will post 1.06 EPS for the current fiscal year.
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In related news, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now owns 5,500 shares in the company, valued at $100,320. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 120,500 shares of company stock valued at $2,183,220. Company insiders own 0.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. First Fiduciary Investment Counsel Inc. boosted its stake in shares of General Electric by 1.1% during the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 757,864 shares of the conglomerate’s stock worth $18,325,000 after buying an additional 8,595 shares during the last quarter. Truepoint Inc. boosted its stake in shares of General Electric by 2,010.7% during the 3rd quarter. Truepoint Inc. now owns 1,086,675 shares of the conglomerate’s stock worth $1,087,000 after buying an additional 1,035,190 shares during the last quarter. Garde Capital Inc. boosted its stake in shares of General Electric by 104.6% during the 3rd quarter. Garde Capital Inc. now owns 38,768 shares of the conglomerate’s stock worth $937,000 after buying an additional 19,819 shares during the last quarter. WealthTrust Fairport LLC boosted its stake in shares of General Electric by 7.2% during the 3rd quarter. WealthTrust Fairport LLC now owns 89,066 shares of the conglomerate’s stock worth $2,154,000 after buying an additional 5,980 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in shares of General Electric by 81.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 18,500 shares of the conglomerate’s stock worth $447,000 after buying an additional 8,300 shares during the last quarter. Institutional investors own 54.75% of the company’s stock.
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