General Electric (NYSE:GE) PT Raised to $175.00 at Royal Bank of Canada

General Electric (NYSE:GE) had its target price hoisted by equities researchers at Royal Bank of Canada from $165.00 to $175.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.52% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their price target on General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Jefferies Financial Group lowered their price target on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. StockNews.com started coverage on General Electric in a report on Sunday, April 21st. They set a “hold” rating for the company. Finally, Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.00.

General Electric Stock Performance

NYSE:GE opened at $161.26 on Wednesday. The stock has a fifty day moving average price of $160.45 and a 200-day moving average price of $135.73. The company has a market cap of $176.30 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 3.05 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. As a group, equities analysts anticipate that General Electric will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

Institutional investors and hedge funds have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC boosted its position in shares of General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp boosted its holdings in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after acquiring an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after acquiring an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC boosted its holdings in General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after acquiring an additional 22,998 shares in the last quarter. Finally, Hoey Investments Inc. boosted its holdings in General Electric by 51,152.3% in the third quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock worth $2,493,000 after acquiring an additional 22,507 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.