UBS Group Lowers General Electric (GE) Price Target to $13.00

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General Electric (NYSE:GE) had its price objective lowered by equities researchers at UBS Group from $16.00 to $13.00 in a research note issued on Wednesday, 247wallst.com reports. The brokerage currently has a “neutral” rating on the conglomerate’s stock. UBS Group’s price target would suggest a potential upside of 3.92% from the stock’s current price.

A number of other equities analysts have also recently issued reports on GE. Gabelli started coverage on shares of General Electric in a research note on Monday, May 14th. They issued a “buy” rating and a $22.50 price objective for the company. Stifel Nicolaus restated a “neutral” rating and issued a $15.00 price objective on shares of General Electric in a research note on Friday, May 18th. Goldman Sachs Group restated a “neutral” rating and issued a $14.00 price objective on shares of General Electric in a research note on Tuesday, May 22nd. JPMorgan Chase & Co. restated a “sell” rating and issued a $11.00 price objective on shares of General Electric in a research note on Tuesday, May 22nd. Finally, Citigroup restated a “buy” rating on shares of General Electric in a research note on Tuesday, May 22nd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.99.

Shares of General Electric stock opened at $12.51 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39. General Electric has a fifty-two week low of $11.94 and a fifty-two week high of $25.21. The firm has a market capitalization of $109.05 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 2.38 and a beta of 0.96.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. During the same period in the prior year, the firm earned $0.21 EPS. The business’s revenue was up 3.5% on a year-over-year basis. equities research analysts expect that General Electric will post 0.96 earnings per share for the current fiscal year.

In related news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the stock in a transaction on Tuesday, July 24th. The stock was purchased at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of GE. FMR LLC increased its position in General Electric by 158.6% in the 2nd quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after acquiring an additional 126,169,069 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in General Electric by 167.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after acquiring an additional 39,268,675 shares in the last quarter. Franklin Resources Inc. increased its position in General Electric by 11.0% in the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after acquiring an additional 20,275,020 shares in the last quarter. Pzena Investment Management LLC increased its position in General Electric by 334.5% in the 2nd quarter. Pzena Investment Management LLC now owns 17,048,137 shares of the conglomerate’s stock valued at $232,025,000 after acquiring an additional 13,124,900 shares in the last quarter. Finally, Morgan Stanley increased its position in General Electric by 26.1% in the 2nd quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock valued at $741,852,000 after acquiring an additional 11,294,608 shares in the last quarter. Hedge funds and other institutional investors own 53.72% of the company’s stock.

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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