General Electric (NYSE:GE)‘s stock had its “sell” rating reissued by JPMorgan Chase & Co. in a report issued on Monday, January 8th. They presently have a $16.00 price target on the conglomerate’s stock, down from their previous price target of $17.00. JPMorgan Chase & Co.’s price objective would suggest a potential downside of 14.71% from the stock’s previous close.
Several other research analysts have also issued reports on the company. Goldman Sachs Group set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, October 23rd. Stifel Nicolaus set a $22.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Tuesday, November 14th. Vetr raised General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective on the stock in a research note on Monday, October 30th. Finally, Royal Bank of Canada downgraded General Electric from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $25.00 to $20.00 in a research note on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. General Electric has a consensus rating of “Hold” and an average target price of $23.25.
Shares of General Electric (GE) opened at $18.76 on Monday. The company has a market capitalization of $162,690.00, a P/E ratio of 21.81, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric has a 12-month low of $17.25 and a 12-month high of $31.45.
In other news, Chairman John Leonard Flannery acquired 60,000 shares of General Electric stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased 120,500 shares of company stock valued at $2,183,220 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of GE. MPS Loria Financial Planners LLC acquired a new position in General Electric during the second quarter valued at approximately $113,000. Ffcm LLC acquired a new position in General Electric during the second quarter valued at approximately $114,000. Corbenic Partners LLC raised its position in General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares in the last quarter. Bristlecone Advisors LLC acquired a new position in General Electric during the third quarter valued at approximately $164,000. Finally, KCS Wealth Advisory acquired a new position in General Electric during the fourth quarter valued at approximately $183,000. Institutional investors own 55.64% of the company’s stock.
General Electric Company Profile
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