General Electric (NYSE:GE) Given New $228.00 Price Target at Deutsche Bank Aktiengesellschaft

General Electric (NYSE:GE) had its price target reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $235.00 to $228.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 32.59% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. UBS Group boosted their target price on shares of 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 boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Trading Up 2.0 %

NYSE GE opened at $171.96 on Thursday. The business’s fifty day moving average is $174.59 and its 200 day moving average is $173.00. General Electric has a twelve month low of $99.34 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $186.11 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The business 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%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, sell-side analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on 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 directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Several hedge funds have recently added to or reduced their stakes in the business. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter worth approximately $2,613,332,000. Jennison Associates LLC boosted its position in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in General Electric in the 2nd quarter worth $580,200,000. International Assets Investment Management LLC increased its position in shares of General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. raised its stake in shares of General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after acquiring an additional 1,605,434 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

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.