General Electric (NYSE:GE) Coverage Initiated at Northcoast Research

Equities researchers at Northcoast Research assumed coverage on shares of General Electric (NYSE:GE) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating on the conglomerate’s stock.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Performance

GE opened at $172.54 on Tuesday. The company has a 50 day simple moving average of $174.39 and a two-hundred day simple moving average of $173.23. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market cap of $186.74 billion, a P/E ratio of 30.32, a PEG ratio of 1.63 and a beta of 1.19. General Electric has a 1-year low of $99.37 and a 1-year high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. 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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Newport Trust Company LLC bought a new stake in General Electric during the 2nd quarter valued at $2,613,332,000. Jennison Associates LLC lifted its stake in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in General Electric during the second quarter valued at about $580,200,000. International Assets Investment Management LLC grew its stake in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. raised its holdings in General Electric by 18,693.9% in the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Company Profile

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.