JPMorgan Chase & Co. Forecasts Strong Price Appreciation for General Electric (NYSE:GE) Stock

General Electric (NYSE:GE) had its price target increased by stock analysts at JPMorgan Chase & Co. from $190.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the conglomerate’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.70% from the stock’s current price.

GE has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.80.

General Electric Trading Down 2.0 %

Shares of General Electric stock opened at $196.81 on Friday. 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 fifty day simple moving average of $175.33 and a 200-day simple moving average of $175.00. The stock has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a 12-month low of $103.75 and a 12-month high of $207.65.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, equities analysts forecast that General Electric will post 4.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred 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 directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s 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 sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC raised its position in shares of General Electric by 19.9% in the second quarter. Daymark Wealth Partners LLC now owns 21,720 shares of the conglomerate’s stock valued at $3,453,000 after buying an additional 3,607 shares during the last quarter. MBB Public Markets I LLC raised its holdings in General Electric by 6,591.3% in the 2nd quarter. MBB Public Markets I LLC now owns 77,485 shares of the conglomerate’s stock valued at $12,318,000 after acquiring an additional 76,327 shares during the last quarter. Marathon Capital Management lifted its stake in shares of General Electric by 25.8% during the 2nd quarter. Marathon Capital Management now owns 1,707 shares of the conglomerate’s stock worth $271,000 after purchasing an additional 350 shares during the period. Makena Capital Management LLC boosted its holdings in shares of General Electric by 7.8% during the second quarter. Makena Capital Management LLC now owns 115,998 shares of the conglomerate’s stock worth $18,440,000 after purchasing an additional 8,349 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the period. Institutional investors and hedge funds 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.