Citigroup Issues Positive Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its target price boosted by equities researchers at Citigroup from $216.00 to $235.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Citigroup’s price objective points to a potential upside of 20.85% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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 report on Thursday, January 2nd. UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Stock Performance

Shares of GE opened at $194.46 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $103.75 and a 12 month high of $207.65. The company’s fifty day moving average is $175.67 and its 200-day moving average is $175.38. The firm has a market cap of $210.46 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

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

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $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 Trading of General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in GE. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the third quarter worth about $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric during the 3rd quarter valued at about $30,000. 74.77% of the stock is currently 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.