General Electric (NYSE:GE) Price Target Cut to $228.00 by Analysts at Deutsche Bank Aktiengesellschaft

General Electric (NYSE:GE) had its price target lowered by equities researchers at Deutsche Bank Aktiengesellschaft from $235.00 to $228.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 35.71% from the company’s previous close.

A number of other equities analysts have also issued reports on GE. UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Price Performance

NYSE GE opened at $168.00 on Thursday. The company has a market cap of $181.83 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.66 and a beta of 1.17. General Electric has a 1 year low of $98.92 and a 1 year high of $194.80. 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 $174.81 and a 200 day simple moving average of $173.03.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 4.24 EPS for the current year.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the 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 completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Trading of General Electric

Several hedge funds and other institutional investors have recently modified their holdings of the business. Studio Investment Management LLC boosted its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the third quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter valued at about $28,000. Institutional investors own 74.77% of the company’s stock.

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.