Redburn Atlantic Initiates Coverage on General Electric (NYSE:GE)

Equities research analysts at Redburn Atlantic assumed coverage on shares of General Electric (NYSE:GE) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $250.00 price target on the conglomerate’s stock. Redburn Atlantic’s price objective points to a potential upside of 19.83% from the company’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Up 0.1 %

Shares of NYSE:GE opened at $208.62 on Tuesday. The stock’s 50-day simple moving average is $183.40 and its two-hundred day simple moving average is $179.67. The stock has a market capitalization of $223.91 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a 52-week low of $117.43 and a 52-week high of $211.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts expect that General Electric will post 5.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Norges Bank bought a new position in General Electric during the 4th quarter worth about $2,375,439,000. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after buying an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the conglomerate’s stock valued at $597,412,000 after buying an additional 1,673,365 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of General Electric by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate’s stock valued at $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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.