General Electric (NYSE:GE) PT Lowered to $87.00 at Royal Bank of Canada

General Electric (NYSE:GE – Get Rating) had its price objective decreased by research analysts at Royal Bank of Canada from $93.00 to $87.00 in a research note issued to investors on Wednesday, The Fly reports. Royal Bank of Canada’s price target points to a potential upside of 8.75% from the company’s current price.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on General Electric from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 19th. UBS Group reduced their price target on shares of General Electric from $98.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, January 12th. Morgan Stanley dropped their target price on General Electric from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com raised General Electric from a “hold” rating to a “buy” rating in a report on Saturday, January 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $89.00 to $94.00 in a report on Monday, December 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.83.

General Electric Price Performance

NYSE:GE opened at $80.00 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $81.74 and a 200 day simple moving average of $75.62. General Electric has a 1-year low of $46.55 and a 1-year high of $81.18. The stock has a market capitalization of $87.41 billion, a PE ratio of -14.59, a P/E/G ratio of 3.16 and a beta of 1.22.

General Electric (NYSE:GE – Get Rating) last issued its earnings results on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. The firm had revenue of $21.79 billion during the quarter, compared to the consensus estimate of $22.11 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that General Electric will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On General Electric

Several hedge funds have recently made changes to their positions in the business. Artemis Investment Management LLP acquired a new stake in General Electric in the fourth quarter valued at about $17,887,000. AFS Financial Group LLC purchased a new stake in General Electric in the 4th quarter worth approximately $377,000. Lindbrook Capital LLC grew its stake in General Electric by 28.0% in the 4th quarter. Lindbrook Capital LLC now owns 3,506 shares of the conglomerate’s stock worth $294,000 after acquiring an additional 766 shares during the period. International Assets Investment Management LLC grew its stake in shares of General Electric by 7,640.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,183,582 shares of the conglomerate’s stock valued at $3,666,000 after buying an additional 1,168,291 shares during the period. Finally, Forum Financial Management LP grew its stake in shares of General Electric by 1.5% during the 4th quarter. Forum Financial Management LP now owns 14,425 shares of the conglomerate’s stock valued at $1,209,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.

General Electric Company Profile

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General Electric Co is a high-tech industrial company. the firm operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power. The Aviation segment designs and produces commercial and military aircraft engines, integrated engine components, electric power and mechanical aircraft systems.