General Electric (NYSE:GE) Given New $180.00 Price Target at Bank of America

General Electric (NYSE:GE) had its price objective hoisted by research analysts at Bank of America from $165.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. Bank of America‘s price objective points to a potential upside of 11.62% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com assumed coverage on shares of General Electric in a research report on Sunday, April 21st. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.00.

General Electric Stock Performance

Shares of GE opened at $161.26 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17. General Electric has a twelve month low of $76.87 and a twelve month high of $163.65. The firm’s 50 day moving average price is $160.45 and its two-hundred day moving average price is $135.73. The firm has a market cap of $176.30 billion, a P/E ratio of 52.87, a PEG ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that General Electric will post 3.95 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently modified their holdings of GE. Wedge Capital Management L L P NC acquired a new position in shares of General Electric in the third quarter valued at about $224,000. Summit Global Investments acquired a new position in shares of General Electric in the third quarter valued at about $218,000. RFG Advisory LLC grew its stake in shares of General Electric by 9.6% in the third quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate’s stock valued at $353,000 after acquiring an additional 280 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of General Electric by 6.9% in the third quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock valued at $2,923,000 after acquiring an additional 1,706 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of General Electric by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 794 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.