General Electric (NYSE:GE) Receives “Outperform” Rating from Royal Bank of Canada

General Electric (NYSE:GE)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $200.00 target price on the conglomerate’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 6.69% from the company’s current price.

A number of other brokerages have also recently weighed in on GE. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Down 0.0 %

Shares of NYSE:GE traded down $0.04 on Wednesday, reaching $187.46. The company had a trading volume of 2,794,498 shares, compared to its average volume of 5,461,067. General Electric has a twelve month low of $101.16 and a twelve month high of $194.80. The stock has a 50-day moving average price of $174.39 and a 200 day moving average price of $174.49. The stock has a market capitalization of $202.89 billion, a P/E ratio of 32.95, a P/E/G ratio of 1.49 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that General Electric will post 4.23 EPS for the current year.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. 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

Large investors have recently bought and sold shares of the business. KBC Group NV lifted its holdings in General Electric by 32.3% during the 4th quarter. KBC Group NV now owns 223,208 shares of the conglomerate’s stock worth $37,228,000 after buying an additional 54,473 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in General Electric during the 4th quarter worth $2,828,000. Apexium Financial LP lifted its holdings in General Electric by 16.9% during the 4th quarter. Apexium Financial LP now owns 1,311 shares of the conglomerate’s stock worth $219,000 after buying an additional 190 shares in the last quarter. Blue Trust Inc. lifted its holdings in General Electric by 35.8% during the 4th quarter. Blue Trust Inc. now owns 18,523 shares of the conglomerate’s stock worth $3,089,000 after buying an additional 4,880 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in General Electric by 4.8% during the 4th quarter. PFG Investments LLC now owns 27,321 shares of the conglomerate’s stock worth $4,557,000 after buying an additional 1,248 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

About General Electric

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.