General Electric (NYSE:GE) Given New $148.00 Price Target at JPMorgan Chase & Co.

General Electric (NYSE:GEFree Report) had its target price reduced by JPMorgan Chase & Co. from $180.00 to $148.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the conglomerate’s stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price objective on General Electric from $177.00 to $200.00 and gave the stock an overweight rating in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price objective on shares of General Electric from $148.00 to $170.00 and gave the company an outperform rating in a research report on Friday, March 1st. TheStreet raised shares of General Electric from a c+ rating to a b+ rating in a report on Tuesday, January 23rd. StockNews.com began coverage on General Electric in a report on Thursday, March 28th. They set a hold rating for the company. Finally, Citigroup upped their price objective on General Electric from $135.00 to $148.00 and gave the company a buy rating in a research note on Monday, December 11th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of Moderate Buy and an average target price of $148.08.

Get Our Latest Stock Analysis on General Electric

General Electric Price Performance

NYSE GE opened at $136.47 on Tuesday. The firm’s 50 day moving average is $154.32 and its 200-day moving average is $130.76. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $149.20 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.35 and a beta of 1.29. General Electric has a 12-month low of $93.47 and a 12-month high of $180.36.

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

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction 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 transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its stake in shares of General Electric by 122,242.2% in 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 period. Norges Bank acquired a new position in shares of General Electric in the 4th quarter worth approximately $1,193,159,000. State Street Corp boosted its position in General Electric by 17.3% during the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after acquiring an additional 7,157,356 shares during the last quarter. WCM Investment Management LLC acquired a new stake in General Electric during the fourth quarter worth approximately $520,488,000. Finally, Brown Advisory Inc. increased its stake in shares of General Electric by 265.7% in the 3rd quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock valued at $332,581,000 after acquiring an additional 2,185,793 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

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.

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