General Electric’s (GE) Outperform Rating Reaffirmed at Royal Bank of Canada

General Electric (NYSE:GE)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $200.00 price objective on the conglomerate’s stock. Royal Bank of Canada’s price target indicates a potential upside of 6.69% from the company’s previous close.

Several other analysts also recently issued reports on the company. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Down 0.0 %

NYSE GE traded down $0.04 during mid-day trading on Wednesday, reaching $187.46. 2,794,498 shares of the company’s stock traded hands, compared to its average volume of 5,461,067. General Electric has a 1-year low of $101.16 and a 1-year high of $194.80. The company has a fifty day simple moving average of $174.39 and a 200-day simple moving average of $174.49. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $202.89 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 1.49 and a beta of 1.19.

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

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction 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 completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tsfg LLC grew its holdings in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares in the last quarter. Red Door Wealth Management LLC boosted its position in General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. boosted its position in General Electric by 4.2% during the fourth quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 57 shares during the last quarter. Strategic Advisors LLC boosted its position in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.