General Electric (NYSE:GE)‘s stock had its “buy” rating reaffirmed by Bank of America in a report released on Tuesday, November 14th. They currently have a $23.00 target price on the conglomerate’s stock, down from their prior target price of $27.00. Bank of America’s price objective would suggest a potential upside of 28.64% from the stock’s current price.
GE has been the topic of several other research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. Cowen reaffirmed a “hold” rating and issued a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $33.00 target price on shares of General Electric in a research note on Saturday, July 22nd. Goldman Sachs Group set a $27.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the company a “sell” rating in a research report on Monday, July 24th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. General Electric has a consensus rating of “Hold” and a consensus price target of $24.31.
General Electric (NYSE GE) traded down $0.41 during trading hours on Tuesday, reaching $17.88. 82,017,768 shares of the company traded hands, compared to its average volume of 85,478,192. The firm has a market cap of $155,056.88, a PE ratio of 14.42, a P/E/G ratio of 1.94 and a beta of 1.07. General Electric has a 1 year low of $17.46 and a 1 year high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at approximately $100,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John Leonard Flannery bought 60,000 shares of General Electric stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 120,500 shares of company stock valued at $2,183,220. Company insiders own 0.36% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Ullmann Financial Group Inc. acquired a new position in General Electric during the first quarter worth about $106,000. MPS Loria Financial Planners LLC acquired a new position in General Electric during the second quarter worth about $113,000. Ffcm LLC acquired a new position in General Electric during the second quarter worth about $114,000. PHH Investments Ltd. raised its stake in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Corbenic Partners LLC raised its stake in General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares in the last quarter. 55.76% of the stock is owned by institutional investors.
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About General Electric
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