Goldman Sachs Analysts Give General Electric (GE) a $14.00 Price Target

Goldman Sachs set a $14.00 target price on General Electric (NYSE:GE) in a research report sent to investors on Monday. The brokerage currently has a neutral rating on the conglomerate’s stock.

Several other research firms have also recently issued reports on GE. Vetr cut General Electric from a strong-buy rating to a buy rating and set a $21.08 price objective for the company. in a research report on Wednesday, January 10th. JPMorgan Chase reaffirmed a sell rating and set a price objective on shares of General Electric in a research report on Monday, January 15th. Deutsche Bank reaffirmed a sell rating and set a $15.00 price objective on shares of General Electric in a research report on Wednesday, January 17th. Vertical Research set a $18.00 price objective on General Electric and gave the stock a hold rating in a research report on Tuesday, January 16th. Finally, Tigress Financial reaffirmed a hold rating on shares of General Electric in a research report on Thursday, December 28th. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. General Electric presently has a consensus rating of Hold and a consensus price target of $17.86.

GE opened at $14.05 on Monday. General Electric has a 12 month low of $12.73 and a 12 month high of $29.55. The firm has a market cap of $126,071.01, a P/E ratio of 13.38, a P/E/G ratio of 2.72 and a beta of 1.02. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.72.

General Electric (NYSE:GE) last released its earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. General Electric’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. research analysts forecast that General Electric will post 1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Friday, February 23rd. General Electric’s dividend payout ratio is presently 45.71%.

In related news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the purchase, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after buying an additional 3,297,890 shares in the last quarter. BlackRock Inc. raised its stake in shares of General Electric by 1.5% during the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock worth $9,278,731,000 after buying an additional 7,675,642 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of General Electric by 64.6% during the 4th quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock worth $3,222,649,000 after buying an additional 72,489,551 shares in the last quarter. Capital World Investors raised its stake in shares of General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after buying an additional 11,194,678 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. 56.12% of the stock is 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.

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