Bank of America Cuts General Electric (NYSE:GE) Price Target to $165.00

General Electric (NYSE:GE - Get Free Report) had its target price lowered by equities researchers at Bank of America from $175.00 to $165.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the conglomerate's stock. Bank of America's target price points to a potential upside of 5.42% from the stock's previous close.

A number of other equities research analysts also recently commented on the stock. Citigroup lifted their target price on shares of General Electric from $135.00 to $148.00 and gave the stock a "buy" rating in a research report on Monday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of General Electric from $180.00 to $148.00 and set an "overweight" rating for the company in a research note on Tuesday, April 2nd. Wells Fargo & Company decreased their target price on shares of General Electric from $200.00 to $165.00 and set an "overweight" rating for the company in a research note on Thursday. Oppenheimer reiterated a "market perform" rating on shares of General Electric in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada decreased their target price on shares of General Electric from $180.00 to $160.00 and set an "outperform" rating for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.00.

General Electric Stock Up 0.1 %

Shares of NYSE GE traded up $0.22 on Monday, reaching $156.52. 9,567,271 shares of the company's stock traded hands, compared to its average volume of 6,709,048. General Electric has a 12 month low of $93.47 and a 12 month high of $180.36. The business's 50 day simple moving average is $156.12 and its two-hundred day simple moving average is $131.93. The company has a market cap of $171.12 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. As a group, equities research analysts forecast that General Electric will post 4.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 13,601 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company's stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Trading of General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emprise Bank purchased a new position in shares of General Electric during the first quarter worth approximately $253,000. Bath Savings Trust Co increased its position in shares of General Electric by 3.3% during the first quarter. Bath Savings Trust Co now owns 7,448 shares of the conglomerate's stock worth $1,307,000 after acquiring an additional 240 shares during the period. Atlas Brown Inc. boosted its stake in shares of General Electric by 5.3% during the first quarter. Atlas Brown Inc. now owns 8,766 shares of the conglomerate's stock valued at $1,539,000 after purchasing an additional 444 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of General Electric by 13.4% during the first quarter. GAMMA Investing LLC now owns 13,557 shares of the conglomerate's stock valued at $2,380,000 after purchasing an additional 1,604 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of General Electric by 218.1% during the first quarter. CWM LLC now owns 103,063 shares of the conglomerate's stock valued at $18,091,000 after purchasing an additional 70,666 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.