General Electric Company (GE) PT Set at $23.00 by Goldman Sachs Group, Inc. (The)

General Electric Company (NYSE:GE) received a $23.00 target price from Goldman Sachs Group, Inc. (The) in a research report issued on Tuesday. The firm currently has a “hold” rating on the conglomerate’s stock. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential downside of 1.54% from the company’s current price.

Several other research analysts have also recently commented on GE. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 price target for the company. in a report on Monday, June 19th. BidaskClub cut shares of General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Standpoint Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a report on Thursday, June 29th. J P Morgan Chase & Co reiterated an “underweight” rating and set a $22.00 price target (down previously from $27.00) on shares of General Electric in a report on Thursday, July 6th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $34.00 price target (down previously from $36.00) on shares of General Electric in a report on Monday, July 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. General Electric presently has an average rating of “Hold” and an average price target of $27.93.

Shares of General Electric (NYSE:GE) opened at 23.36 on Tuesday. General Electric has a 52 week low of $22.83 and a 52 week high of $32.38. The firm has a 50-day moving average of $24.25 and a 200 day moving average of $26.74. The firm has a market capitalization of $202.25 billion, a P/E ratio of 28.45 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. On average, equities research analysts expect that General Electric will post $1.53 EPS for the current fiscal year.

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In other General Electric news, insider Alexander Dimitrief purchased 1,845 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Ullmann Financial Group Inc. purchased a new position in General Electric

Several other research analysts have also recently commented on GE. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 price target for the company. in a report on Monday, June 19th. BidaskClub cut shares of General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Standpoint Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a report on Thursday, June 29th. J P Morgan Chase & Co reiterated an “underweight” rating and set a $22.00 price target (down previously from $27.00) on shares of General Electric in a report on Thursday, July 6th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $34.00 price target (down previously from $36.00) on shares of General Electric in a report on Monday, July 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. General Electric presently has an average rating of “Hold” and an average price target of $27.93.

Shares of General Electric (NYSE:GE) opened at 23.36 on Tuesday. General Electric has a 52 week low of $22.83 and a 52 week high of $32.38. The firm has a 50-day moving average of $24.25 and a 200 day moving average of $26.74. The firm has a market capitalization of $202.25 billion, a P/E ratio of 28.45 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. On average, equities research analysts expect that General Electric will post $1.53 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/17/general-electric-company-ge-pt-set-at-23-00-by-goldman-sachs-group-inc-the.html.

In other General Electric news, insider Alexander Dimitrief purchased 1,845 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Ullmann Financial Group Inc. purchased a new position in General Electric during the 1st quarter worth $106,000. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the 1st quarter worth $114,000. PHH Investments Ltd. raised its position in General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the last quarter. Ffcm LLC purchased a new position in General Electric during the 2nd quarter worth $114,000. Finally, MPS Loria Financial Planners LLC purchased a new position in General Electric during the 2nd quarter worth $113,000. Hedge funds and other institutional investors own 54.67% of the company’s stock.

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