Northcoast Research Initiates Coverage on General Electric (NYSE:GE)

Investment analysts at Northcoast Research began coverage on shares of General Electric (NYSE:GE) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating on the conglomerate’s stock.

A number of other research analysts have also recently issued reports on GE. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Three investment 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, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Performance

NYSE:GE opened at $172.85 on Tuesday. The company has a market cap of $187.07 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.63 and a beta of 1.19. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a fifty day moving average price of $174.32 and a 200-day moving average price of $173.28.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. As a group, equities analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % 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

Institutional investors have recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. Finally, Peterson Financial Group Inc. bought a new position in shares of General Electric in the third quarter valued at $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.