General Electric (NYSE:GE) Price Target Increased to $180.00 by Analysts at Argus

General Electric (NYSE:GE) had its target price increased by analysts at Argus from $170.00 to $180.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Argus’ price target suggests a potential upside of 13.28% from the company’s previous close.

Other equities analysts have also issued research reports about the company. StockNews.com assumed coverage on General Electric in a research note on Sunday. They issued a “hold” rating on the stock. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Barclays dropped their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Bank of America lifted their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.29.

General Electric Trading Down 2.3 %

General Electric stock traded down $3.72 during mid-day trading on Wednesday, hitting $158.90. The stock had a trading volume of 7,608,011 shares, compared to its average volume of 8,130,319. The stock has a 50-day simple moving average of $159.94 and a two-hundred day simple moving average of $135.39. The stock has a market capitalization of $173.72 billion, a PE ratio of 19.04, a P/E/G ratio of 2.96 and a beta of 1.29. General Electric has a 12 month low of $76.87 and a 12 month high of $163.65. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. As a group, sell-side analysts forecast that General Electric will post 3.76 EPS for the current year.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was 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 owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of 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. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Halpern Financial Inc. lifted its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new stake in General Electric during the fourth quarter worth $27,000. CGC Financial Services LLC lifted its holdings in General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC lifted its holdings in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new stake in General Electric during the first quarter worth $44,000. Institutional investors own 74.77% of the company’s stock.

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.