General Electric (NYSE:GE) Price Target Increased to $180.00 by Analysts at Argus

General Electric (NYSE:GE) had its price objective raised by stock analysts at Argus from $170.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Argus’ price objective points to a potential upside of 13.28% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Bank of America upped their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Finally, Barclays decreased their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $167.29.

General Electric Trading Down 2.3 %

NYSE:GE traded down $3.72 during mid-day trading on Wednesday, hitting $158.90. 7,608,011 shares of the stock traded hands, compared to its average volume of 8,130,319. The stock has a market capitalization of $173.72 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 2.96 and a beta of 1.29. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65. The firm’s 50 day moving average is $159.94 and its two-hundred day moving average is $135.39. 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 released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. On average, equities research analysts predict that General Electric will post 3.76 earnings per share for the current year.

Insider Activity

In other news, SVP Michael J. Holston sold 13,601 shares of General Electric 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 sale, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated 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 directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of institutional investors have recently bought and sold shares of GE. Halpern Financial Inc. raised its stake in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of General Electric in the 4th quarter valued at approximately $27,000. CGC Financial Services LLC increased its stake in General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares during the period. Capital Analysts LLC increased its stake in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC purchased a new stake in General Electric during the 4th quarter worth approximately $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.