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.
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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