Goldman Sachs Group Analysts Give General Electric (GE) a $14.00 Price Target

General Electric (NYSE:GE) has been given a $14.00 target price by investment analysts at Goldman Sachs Group in a research note issued on Friday. The brokerage presently has a “neutral” rating on the conglomerate’s stock. Goldman Sachs Group’s target price points to a potential upside of 5.98% from the stock’s previous close.

A number of other research analysts also recently issued reports on GE. Royal Bank of Canada set a $15.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Zacks Investment Research downgraded General Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, June 22nd. JPMorgan Chase & Co. set a $11.00 price objective on General Electric and gave the company a “sell” rating in a research note on Wednesday, June 27th. Deutsche Bank set a $15.00 price objective on General Electric and gave the company a “hold” rating in a research note on Thursday, July 12th. Finally, Gabelli reiterated a “buy” rating on shares of General Electric in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.42.

Shares of General Electric traded down $0.52, reaching $13.21, during mid-day trading on Friday, MarketBeat reports. 2,374,354 shares of the company traded hands, compared to its average volume of 66,091,320. The company has a market cap of $119.39 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a current ratio of 1.76, a quick ratio of 1.48 and a debt-to-equity ratio of 1.44. General Electric has a 52 week low of $12.61 and a 52 week high of $27.05.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. equities research analysts predict that General Electric will post 0.96 earnings per share for the current fiscal year.

In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hikari Power Ltd bought a new position in shares of General Electric during the 4th quarter valued at approximately $1,312,000. Perkins Coie Trust Co raised its holdings in General Electric by 41.5% during the 4th quarter. Perkins Coie Trust Co now owns 77,938 shares of the conglomerate’s stock valued at $1,359,000 after buying an additional 22,843 shares during the period. First United Bank Trust raised its holdings in General Electric by 31.2% during the 4th quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock valued at $202,000 after buying an additional 2,760 shares during the period. Wealthsource Partners LLC raised its holdings in General Electric by 41.5% during the 4th quarter. Wealthsource Partners LLC now owns 85,175 shares of the conglomerate’s stock valued at $1,486,000 after buying an additional 24,989 shares during the period. Finally, Barings LLC raised its holdings in General Electric by 533.0% during the 1st quarter. Barings LLC now owns 118,762 shares of the conglomerate’s stock valued at $1,601,000 after buying an additional 100,000 shares during the period. Hedge funds and other institutional investors own 53.90% of the company’s stock.

About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Analyst Recommendations for General Electric (NYSE:GE)

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