StockNews.com Initiates Coverage on General Electric (NYSE:GE)

Equities research analysts at StockNews.com started coverage on shares of General Electric (NYSE:GE) in a report issued on Monday. The firm set a “hold” rating on the conglomerate’s stock.

Other research analysts also recently issued research reports about the company. Argus boosted their target price on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Finally, Bank of America upped their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

General Electric Stock Performance

NYSE GE opened at $161.75 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26. The firm has a market cap of $177.05 billion, a P/E ratio of 53.03, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. The company’s 50 day moving average is $161.29 and its 200-day moving average is $137.17.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate 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 net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Sell-side analysts predict that General Electric will post 3.93 earnings per share for the current year.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly 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 the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction that occurred 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 owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of large investors have recently made changes to their positions in GE. Halpern Financial Inc. increased its stake in General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new position in General Electric in the 4th quarter worth about $27,000. CGC Financial Services LLC increased its position in shares of General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Capital Analysts LLC raised its stake in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new position in General Electric in the first quarter worth approximately $44,000. 74.77% of the stock is 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.