General Electric (NYSE:GE) Given New $211.00 Price Target at The Goldman Sachs Group

General Electric (NYSE:GE) had its price target lifted by equities research analysts at The Goldman Sachs Group from $190.00 to $211.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s price target points to a potential upside of 34.72% from the stock’s previous close.

GE has been the subject of several other reports. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada dropped their target price on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. JPMorgan Chase & Co. dropped 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. StockNews.com initiated coverage on shares of General Electric in a research note on Sunday. They set a “hold” rating for the company. Finally, Wells Fargo & Company lowered their target price on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $161.57.

General Electric Price Performance

GE stock traded down $6.00 during trading on Wednesday, hitting $156.62. 5,094,228 shares of the company’s stock traded hands, compared to its average volume of 8,098,769. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The business has a fifty day simple moving average of $159.94 and a 200 day simple moving average of $135.39. The stock has a market capitalization of $171.23 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.96 and a beta of 1.29.

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 the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, research analysts expect 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 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 transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Electric

Large investors have recently bought and sold shares of the stock. Walker Asset Management LLC boosted its holdings in shares of General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares during the last quarter. BKM Wealth Management LLC raised its position in shares of General Electric by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after buying an additional 72 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of General Electric by 1.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock worth $550,000 after buying an additional 74 shares during the period. Checchi Capital Advisers LLC raised its position in General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock valued at $814,000 after purchasing an additional 75 shares during the period. Finally, Forte Capital LLC ADV raised its position in General Electric by 2.1% in the fourth quarter. Forte Capital LLC ADV now owns 4,067 shares of the conglomerate’s stock valued at $519,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds 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.