General Electric (GE) Earns “Hold” Rating from Bank of America

General Electric (NYSE:GE)‘s stock had its “hold” rating reaffirmed by analysts at Bank of America in a research report issued on Sunday. They presently have a $17.00 price target on the conglomerate’s stock. Bank of America’s target price indicates a potential upside of 27.53% from the company’s current price.

A number of other research analysts have also commented on GE. TheStreet lowered shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. DZ Bank reaffirmed a “sell” rating on shares of General Electric in a research report on Tuesday, April 3rd. Goldman Sachs reaffirmed a “neutral” rating and set a $14.00 price objective on shares of General Electric in a research report on Tuesday, April 10th. Stifel Nicolaus cut their price objective on shares of General Electric from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $15.00 price objective on shares of General Electric in a research report on Thursday, April 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.86.

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Shares of GE opened at $13.33 on Friday. The stock has a market cap of $117,127.95, a PE ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. General Electric has a 52 week low of $12.73 and a 52 week high of $30.54.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. equities analysts predict that General Electric will post 0.96 EPS for the current year.

In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of General Electric by 0.6% during the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares during the last quarter. BlackRock Inc. grew its stake in shares of General Electric by 1.5% during the fourth quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after purchasing an additional 7,675,642 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of General Electric by 64.6% during the fourth quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock valued at $3,222,649,000 after purchasing an additional 72,489,551 shares during the last quarter. Capital World Investors grew its stake in shares of General Electric by 8.6% during the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after purchasing an additional 11,194,678 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. 56.22% of the stock is currently owned by hedge funds and other institutional investors.

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About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

Analyst Recommendations for General Electric (NYSE:GE)

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