General Electric (NYSE:GE) Upgraded to Buy at StockNews.com

General Electric (NYSE:GE – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

GE has been the topic of several other reports. Bank of America reduced their price objective on General Electric from $105.00 to $85.00 in a research note on Monday, January 9th. Citigroup upped their target price on General Electric from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, December 9th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $89.00 to $94.00 in a research note on Monday, December 5th. UBS Group cut their target price on General Electric from $98.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada upped their target price on General Electric from $93.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, December 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.58.

General Electric Price Performance

NYSE:GE opened at $80.20 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $87.63 billion, a P/E ratio of -14.50, a P/E/G ratio of 2.44 and a beta of 1.21. General Electric has a 12 month low of $46.55 and a 12 month high of $80.60. The business’s 50-day moving average is $82.55 and its 200 day moving average is $74.68.

General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The conglomerate reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. The company had revenue of $19.08 billion for the quarter, compared to the consensus estimate of $18.77 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that General Electric will post 2.54 earnings per share for the current fiscal year.

Institutional Trading of General Electric

A number of hedge funds have recently bought and sold shares of the stock. RE Dickinson Investment Advisors LLC lifted its holdings in General Electric by 37.5% during the third quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock worth $30,000 after buying an additional 130 shares during the period. Plancorp LLC lifted its holdings in General Electric by 1.5% during the first quarter. Plancorp LLC now owns 9,628 shares of the conglomerate’s stock worth $881,000 after buying an additional 138 shares during the period. Circle Wealth Management LLC lifted its holdings in General Electric by 2.6% during the second quarter. Circle Wealth Management LLC now owns 5,611 shares of the conglomerate’s stock worth $357,000 after buying an additional 141 shares during the period. Money Concepts Capital Corp lifted its holdings in General Electric by 17.0% during the third quarter. Money Concepts Capital Corp now owns 992 shares of the conglomerate’s stock worth $61,000 after buying an additional 144 shares during the period. Finally, CVA Family Office LLC lifted its holdings in General Electric by 9.3% during the third quarter. CVA Family Office LLC now owns 1,702 shares of the conglomerate’s stock worth $105,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 70.12% of the company’s stock.

About General Electric

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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.