General Electric (NYSE:GE) Price Target Cut to $175.00 by Analysts at Barclays

General Electric (NYSE:GEFree Report) had its price objective cut by Barclays from $181.00 to $175.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

A number of other brokerages have also recently weighed in on GE. Citigroup upped their price target on General Electric from $135.00 to $148.00 and gave the company a buy rating in a research report on Monday, December 11th. Royal Bank of Canada boosted their price objective on General Electric from $148.00 to $170.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Oppenheimer reissued a market perform rating on shares of General Electric in a research note on Tuesday, March 5th. JPMorgan Chase & Co. reduced their price objective on General Electric from $180.00 to $148.00 and set an overweight rating on the stock in a research note on Tuesday. Finally, TheStreet raised General Electric from a c+ rating to a b+ rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of Moderate Buy and an average target price of $151.38.

Check Out Our Latest Analysis on GE

General Electric Stock Performance

Shares of NYSE:GE opened at $145.63 on Wednesday. The business’s fifty day moving average price is $154.45 and its two-hundred day moving average price is $130.91. General Electric has a fifty-two week low of $93.47 and a fifty-two week high of $180.36. The stock has a market capitalization of $159.21 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85.

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

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s 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 completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Electric

Several large investors have recently modified their holdings of GE. Vanguard Group Inc. grew its holdings in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in the last quarter. State Street Corp grew its holdings in shares of General Electric by 3.5% during the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock worth $5,515,327,000 after buying an additional 1,717,793 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Northern Trust Corp grew its holdings in shares of General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Finally, Norges Bank bought a new position in shares of General Electric during the fourth quarter worth about $1,193,159,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Company Profile

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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.

Further Reading

Analyst Recommendations for General Electric (NYSE:GE)

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