General Electric (NYSE:GE) Given New $211.00 Price Target at The Goldman Sachs Group

General Electric (NYSE:GE) had its target price boosted by equities research analysts at The Goldman Sachs Group from $190.00 to $211.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 34.72% from the stock’s previous close.

GE has been the subject of several other reports. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Vertical Research initiated coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 target price for the company. StockNews.com began coverage on shares of General Electric in a research note on Sunday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $161.57.

General Electric Stock Performance

NYSE GE traded down $6.00 on Wednesday, hitting $156.62. The stock had a trading volume of 5,094,228 shares, compared to its average volume of 8,098,769. The company’s 50-day moving average is $159.94 and its two-hundred day moving average is $135.39. The stock has a market cap of $171.23 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.96 and a beta of 1.29. General Electric has a one year low of $76.87 and a one year high of $163.65. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. On average, analysts expect that General Electric will post 3.76 earnings per share for the current year.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Trading of General Electric

A number of large investors have recently added to or reduced their stakes in the company. Capasso Planning Partners LLC acquired a new stake in General Electric in the 1st quarter worth about $257,000. Assenagon Asset Management S.A. lifted its position in shares of General Electric by 5.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 29,700 shares of the conglomerate’s stock worth $5,213,000 after purchasing an additional 1,550 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of General Electric during the 1st quarter valued at $100,000. Charter Oak Capital Management LLC bought a new stake in General Electric during the 1st quarter valued at $304,000. Finally, Busey Bank grew its stake in shares of General Electric by 3.1% in the 1st quarter. Busey Bank now owns 12,461 shares of the conglomerate’s stock worth $2,187,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds 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.