General Electric (NYSE:GE) Given New $175.00 Price Target at Royal Bank of Canada

General Electric (NYSE:GE) had its price target increased by analysts at Royal Bank of Canada from $165.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 11.49% from the company’s previous close.

A number of other equities research analysts have also recently commented on GE. StockNews.com initiated coverage on shares of General Electric in a report on Sunday. They set a “hold” rating on the stock. Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America dropped their target price on shares of General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $162.64.

General Electric Stock Down 3.5 %

Shares of NYSE GE traded down $5.66 on Wednesday, reaching $156.96. 5,924,478 shares of the company’s stock traded hands, compared to its average volume of 8,104,300. General Electric has a 12 month low of $76.87 and a 12 month high of $163.65. The business’s 50 day simple moving average is $159.94 and its two-hundred day simple moving average is $135.39. The company has a market cap of $171.60 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.96 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last announced 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. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that General Electric will post 3.76 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 General Electric stock in a transaction on Wednesday, February 14th. The shares were 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 directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the period. Northern Trust Corp raised its stake in shares of General Electric by 4.0% during the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after acquiring an additional 410,061 shares in the last quarter. Norges Bank bought a new position in shares of General Electric during the 4th quarter worth approximately $1,193,159,000. Morgan Stanley increased its stake in General Electric by 5.1% during the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after purchasing an additional 434,736 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in General Electric by 6.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock valued at $849,385,000 after purchasing an additional 426,794 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other 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.