General Electric (NYSE:GE) Given Average Recommendation of “Moderate Buy” by Brokerages

Posted by Defense World Staff on Jun 8th, 2023

Shares of General Electric (NYSE:GE – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $103.87.

GE has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on General Electric from $96.00 to $110.00 and gave the company a “buy” rating in a report on Friday, April 14th. Bank of America upped their target price on General Electric from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Morgan Stanley upped their target price on General Electric from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, March 31st. TheStreet raised General Electric from a “c” rating to a “b-” rating in a report on Friday, February 10th. Finally, Oppenheimer lifted their price objective on General Electric from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 14th.

General Electric Price Performance

Shares of NYSE GE opened at $106.08 on Thursday. General Electric has a 1-year low of $46.55 and a 1-year high of $107.33. The firm has a market capitalization of $115.52 billion, a PE ratio of 13.83, a P/E/G ratio of 7.33 and a beta of 1.27. The business’s fifty day moving average price is $99.67 and its two-hundred day moving average price is $89.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.92.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.14. The business had revenue of $14.49 billion during the quarter, compared to analyst estimates of $13.46 billion. General Electric had a return on equity of 9.45% and a net margin of 11.85%. General Electric’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, research analysts expect that General Electric will post 2.03 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Scott Strazik sold 173,873 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the completion of the transaction, the senior vice president now owns 56,049 shares of the company’s stock, valued at approximately $5,580,238.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Scott Strazik sold 173,873 shares of General Electric stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the sale, the senior vice president now directly owns 56,049 shares in the company, valued at approximately $5,580,238.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Holston sold 58,292 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $104.68, for a total transaction of $6,102,006.56. Following the completion of the sale, the senior vice president now directly owns 70,537 shares of the company’s stock, valued at $7,383,813.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 239,419 shares of company stock worth $24,144,151. Company insiders own 0.67% of the company’s stock.

Institutional Trading of General Electric

Several hedge funds have recently made changes to their positions in GE. Northstar Group Inc. grew its position in General Electric by 2.9% during the first quarter. Northstar Group Inc. now owns 3,673 shares of the conglomerate’s stock valued at $351,000 after buying an additional 104 shares during the period. WMS Partners LLC boosted its position in General Electric by 1.3% during the first quarter. WMS Partners LLC now owns 8,500 shares of the conglomerate’s stock worth $813,000 after purchasing an additional 109 shares during the period. ZWJ Investment Counsel Inc. boosted its position in shares of General Electric by 0.3% in the first quarter. ZWJ Investment Counsel Inc. now owns 43,634 shares of the conglomerate’s stock valued at $4,171,000 after acquiring an additional 110 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of General Electric by 2.9% in the first quarter. HHM Wealth Advisors LLC now owns 3,972 shares of the conglomerate’s stock valued at $380,000 after acquiring an additional 113 shares during the period. Finally, Sandy Spring Bank raised its stake in General Electric by 2.9% in the first quarter. Sandy Spring Bank now owns 4,044 shares of the conglomerate’s stock valued at $387,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.

About General Electric

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.