Barclays Cuts General Electric (NYSE:GE) Price Target to $100.00

General Electric (NYSE:GEGet Rating) had its price objective reduced by equities research analysts at Barclays from $115.00 to $100.00 in a report released on Friday, The Fly reports. Barclays‘s price target indicates a potential upside of 28.65% from the stock’s current price.

Several other research analysts have also recently weighed in on GE. Wells Fargo & Company cut their price objective on General Electric from $105.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 26th. Royal Bank of Canada boosted their price objective on General Electric from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, March 11th. Bank of America cut their price objective on General Electric from $132.00 to $120.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $118.00 to $107.00 in a research report on Wednesday. Finally, Credit Suisse Group dropped their price target on General Electric from $113.00 to $102.00 in a research report on Wednesday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Buy” and an average target price of $117.69.

Shares of General Electric stock opened at $77.73 on Friday. The stock has a fifty day simple moving average of $91.35 and a 200 day simple moving average of $96.67. General Electric has a 12-month low of $75.85 and a 12-month high of $116.17. The company has a market capitalization of $85.45 billion, a P/E ratio of -12.48, a price-to-earnings-growth ratio of 4.14 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.74.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. General Electric had a positive return on equity of 6.62% and a negative net margin of 8.80%. The business had revenue of $17.04 billion during the quarter, compared to the consensus estimate of $16.92 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. General Electric’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that General Electric will post 3.17 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake in shares of General Electric by 39.4% during the 4th quarter. Capital Research Global Investors now owns 53,968,728 shares of the conglomerate’s stock valued at $5,098,427,000 after purchasing an additional 15,251,142 shares during the period. State Street Corp increased its stake in General Electric by 0.6% in the 4th quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock worth $4,112,580,000 after acquiring an additional 255,566 shares during the last quarter. Morgan Stanley increased its stake in General Electric by 5.7% in the 2nd quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock worth $556,497,000 after acquiring an additional 2,238,808 shares during the last quarter. Geode Capital Management LLC increased its stake in General Electric by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock worth $1,664,776,000 after acquiring an additional 513,385 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in General Electric by 8.4% in the 4th quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock worth $1,042,334,000 after acquiring an additional 852,849 shares during the last quarter. Institutional investors own 70.28% of the company’s stock.

General Electric Company Profile (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment 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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