General Electric (NYSE:GE) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Monday. They presently have a $17.00 price target on the conglomerate’s stock. Bank of America’s target price points to a potential upside of 0.65% from the stock’s previous close.
GE has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Royal Bank of Canada set a $25.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Morningstar restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Citigroup set a $28.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Vetr upgraded 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. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus price target of $22.59.
Shares of General Electric (GE) opened at $16.89 on Monday. The firm has a market capitalization of $146,470.00, a P/E ratio of 19.64, a P/E/G ratio of 3.02 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a fifty-two week low of $15.80 and a fifty-two week high of $30.59.
In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last quarter, insiders bought 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of GE. MPS Loria Financial Planners LLC bought a new stake in General Electric during the 2nd quarter worth $113,000. Ffcm LLC bought a new stake in General Electric during the 2nd quarter worth $114,000. Corbenic Partners LLC grew its position in General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares during the last quarter. Bristlecone Advisors LLC bought a new stake in General Electric during the 3rd quarter worth $164,000. Finally, KCS Wealth Advisory bought a new stake in General Electric during the 4th quarter worth $183,000. Institutional investors own 55.62% of the company’s stock.
General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.