Citigroup Issues Positive Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its price target lifted by Citigroup from $216.00 to $235.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. Citigroup’s target price indicates a potential upside of 20.53% from the company’s previous close.

GE has been the subject of several other reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. UBS Group upped their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.07.

General Electric Stock Down 0.9 %

Shares of General Electric stock opened at $194.98 on Monday. The company has a market cap of $211.02 billion, a P/E ratio of 34.46, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a 52-week low of $103.75 and a 52-week high of $207.65. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average price is $175.33 and its 200-day moving average price is $175.15.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, sell-side analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Electric

Several hedge funds have recently added to or reduced their stakes in GE. Susquehanna Fundamental Investments LLC purchased a new position in General Electric in the second quarter valued at approximately $811,000. Ascent Group LLC increased its stake in General Electric by 1.9% in the second quarter. Ascent Group LLC now owns 17,005 shares of the conglomerate’s stock valued at $2,703,000 after purchasing an additional 309 shares during the last quarter. Creative Planning increased its stake in General Electric by 5.3% in the second quarter. Creative Planning now owns 180,323 shares of the conglomerate’s stock valued at $28,666,000 after purchasing an additional 9,078 shares during the last quarter. Nemes Rush Group LLC grew its position in shares of General Electric by 11.2% during the second quarter. Nemes Rush Group LLC now owns 1,198 shares of the conglomerate’s stock worth $190,000 after acquiring an additional 121 shares during the last quarter. Finally, Silver Lake Advisory LLC purchased a new position in shares of General Electric during the second quarter worth approximately $331,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.