JPMorgan Chase & Co. Boosts General Electric (NYSE:GE) Price Target to $210.00

General Electric (NYSE:GE) had its target price boosted by research analysts at JPMorgan Chase & Co. from $190.00 to $210.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the conglomerate’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.70% from the company’s previous close.

Other analysts also recently issued reports about the stock. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $205.80.

General Electric Stock Down 2.0 %

Shares of GE stock opened at $196.81 on Friday. The stock’s fifty day moving average price is $175.33 and its 200 day moving average price is $175.00. General Electric has a 1-year low of $103.75 and a 1-year high of $207.65. The company has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, research analysts expect that General Electric will post 4.23 earnings per share for the current fiscal year.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC grew its position in shares of General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares in the last quarter. Legal & General Group Plc increased its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the period. Jennison Associates LLC raised its holdings in General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in General Electric by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after acquiring an additional 413,388 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.