Northcoast Research Initiates Coverage on General Electric (NYSE:GE)

Equities researchers at Northcoast Research began coverage on shares of General Electric (NYSE:GE) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating on the conglomerate’s stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group increased their price objective 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Performance

GE opened at $172.54 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $99.37 and a 12-month high of $194.80. The firm has a 50 day moving average of $174.39 and a two-hundred day moving average of $173.23. The firm has a market capitalization of $186.74 billion, a PE ratio of 30.32, a P/E/G ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, analysts anticipate that General Electric will post 4.24 EPS for the current year.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction 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. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lantz Financial LLC boosted its holdings in shares of General Electric by 1.9% in the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock valued at $591,000 after acquiring an additional 70 shares during the period. Norden Group LLC grew its position in General Electric by 19.7% during the 2nd quarter. Norden Group LLC now owns 1,594 shares of the conglomerate’s stock worth $253,000 after purchasing an additional 262 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in General Electric in the second quarter valued at $188,000. Asset Dedication LLC increased its stake in General Electric by 16.4% in the second quarter. Asset Dedication LLC now owns 953 shares of the conglomerate’s stock valued at $151,000 after purchasing an additional 134 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of General Electric by 28,412.5% in the second quarter. Quest Partners LLC now owns 2,281 shares of the conglomerate’s stock valued at $363,000 after buying an additional 2,273 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Company Profile

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.