General Electric (NYSE:GE) Price Target Increased to $175.00 by Analysts at Royal Bank of Canada

General Electric (NYSE:GE) had its price target lifted by research analysts at Royal Bank of Canada from $165.00 to $175.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.49% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. StockNews.com initiated coverage on General Electric in a report on Sunday. They set a “hold” rating for the company. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. cut their price target on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Vertical Research assumed coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $162.64.

General Electric Stock Down 3.5 %

NYSE:GE traded down $5.66 on Wednesday, hitting $156.96. 5,924,478 shares of the company’s stock traded hands, compared to its average volume of 8,104,300. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. General Electric has a 1 year low of $76.87 and a 1 year high of $163.65. The firm has a 50-day moving average price of $159.94 and a 200-day moving average price of $135.39. The company has a market cap of $171.60 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 2.96 and a beta of 1.29.

General Electric (NYSE:GE) last released 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 company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. Equities analysts anticipate that General Electric will post 3.76 EPS for the current fiscal year.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’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 sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Childress Capital Advisors LLC increased its position in shares of General Electric by 20.9% during the 1st quarter. Childress Capital Advisors LLC now owns 3,268 shares of the conglomerate’s stock worth $574,000 after purchasing an additional 565 shares during the last quarter. Capasso Planning Partners LLC acquired a new position in General Electric in the 1st quarter valued at $257,000. Assenagon Asset Management S.A. grew its holdings in General Electric by 5.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 29,700 shares of the conglomerate’s stock valued at $5,213,000 after buying an additional 1,550 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in General Electric in the 1st quarter valued at $100,000. Finally, Charter Oak Capital Management LLC acquired a new position in General Electric in the 1st quarter valued at $304,000. 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.