General Electric Company (NYSE:GE) Receives $30.82 Consensus Target Price from Analysts

Shares of General Electric Company (NYSE:GE) have earned an average recommendation of “Buy” from the twenty analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $30.40.

Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates purchased a new stake in General Electric Company during the third quarter worth approximately $35,297,000. Eagle Asset Management boosted its stake in General Electric Company by 225.8% in the third quarter. Eagle Asset Management now owns 287,160 shares of the company’s stock worth $7,242,000 after buying an additional 199,031 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new stake in General Electric Company during the third quarter worth approximately $3,186,000. Baker Avenue Asset Management boosted its stake in General Electric Company by 37.0% in the third quarter. Baker Avenue Asset Management now owns 204,491 shares of the company’s stock worth $5,157,000 after buying an additional 55,242 shares in the last quarter. Finally, Perigon Wealth Management boosted its stake in General Electric Company by 11.3% in the third quarter. Perigon Wealth Management now owns 63,884 shares of the company’s stock worth $1,615,000 after buying an additional 6,501 shares in the last quarter.

A number of equities analysts have recently commented on GE shares. Vetr lowered General Electric Company from a “buy” rating to a “hold” rating and set a $25.79 price objective on the stock. in a research note on Monday, September 14th. Credit Suisse restated a “buy” rating and set a $31.00 price target on shares of General Electric Company in a research note on Wednesday, September 16th. Zacks Investment Research lowered General Electric Company from a “hold” rating to a “sell” rating in a research note on Tuesday, September 22nd. Barclays restated a “buy” rating and set a $30.00 price target on shares of General Electric Company in a research note on Monday, October 5th. Finally, Deutsche Bank restated a “hold” rating and set a $28.00 price target on shares of General Electric Company in a research note on Monday, October 5th.

Shares of General Electric Company (NYSE:GE) traded down 2.47% during mid-day trading on Monday, hitting $30.38. The company had a trading volume of 25,572,518 shares. The firm’s 50 day moving average is $30.49 and its 200-day moving average is $27.57. General Electric Company has a 12-month low of $19.37 and a 12-month high of $31.49. The firm’s market cap is $307.12 billion.

General Electric Company (NYSE:GE) last posted its quarterly earnings data on Friday, October 16th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business earned $26.55 billion during the quarter. During the same quarter in the previous year, the firm earned $0.38 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts expect that General Electric Company will post $1.29 EPS for the current year.

12 Month Chart for NYSE:GE

General Electric Company (NYSE:GE) is a diversified infrastructure and financial services company. The products and services of the Company range from aircraft engines, power generation, oil and gas production equipment, and household appliances to medical imaging, business and consumer financing and industrial products. The Company operates its segments through its eight businesses, -based on the markets they serve: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances, and Lighting and GE Capital. GE Capital operates the following businesses: Commercial Lending and Leasing, Consumer, Real Estate, Energy Financial Services and GE Capital Aviation Services. The Company operates in approximately 175 countries.

 

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