Today: Today: William Blair Reiterates “$35.00” Price Target for General Electric Co. (GE)

Today: William Blair Reiterates “$35.00” Price Target for General Electric Co. (GE)

William Blair set a $35.00 target price on General Electric Co. (NYSE:GE) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. Goldman Sachs Group Inc. set a $30.00 price target on General Electric and gave the company a neutral rating in a research note on Monday, November 21st. JPMorgan Chase & Co. reaffirmed an underweight rating on shares of General Electric in a research note on Tuesday, November 15th. Vetr cut General Electric from a buy rating to a hold rating and set a $31.80 price target for the company. in a research note on Monday, November 14th. Sanford C. Bernstein reiterated a market perform rating and issued a $33.00 price objective on shares of General Electric in a research report on Tuesday, November 1st. Finally, RBC Capital Markets reiterated an outperform rating and issued a $36.00 price objective on shares of General Electric in a research report on Tuesday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. General Electric has a consensus rating of Hold and an average price target of $32.56.

General Electric (NYSE:GE) opened at 31.44 on Tuesday. The company’s 50-day moving average is $29.53 and its 200 day moving average is $30.43. The company has a market cap of $278.13 billion, a price-to-earnings ratio of 27.03 and a beta of 1.20. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 21st. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company earned $29.30 billion during the quarter, compared to analysts’ expectations of $29.64 billion. General Electric had a return on equity of 16.08% and a net margin of 8.93%. General Electric’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. Equities analysts forecast that General Electric will post $1.49 earnings per share for the current fiscal year.

In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the stock in a transaction on Wednesday, November 9th. The shares were purchased at an average price of $29.24 per share, for a total transaction of $1,462,000.00. Following the transaction, the chairman now directly owns 2,248,688 shares of the company’s stock, valued at $65,751,637.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Catamount Wealth Management boosted its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares during the last quarter. Elefante Mark B bought a new stake in General Electric during the third quarter valued at about $116,000. Cable Hill Partners LLC raised its stake in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares during the period. Global X Management Co. LLC raised its stake in General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares during the period. Finally, Timber Creek Capital Management LLC raised its stake in General Electric by 175.3% in the third quarter. Timber Creek Capital Management LLC now owns 5,505 shares of the company’s stock valued at $163,000 after buying an additional 3,505 shares during the period. Hedge funds and other institutional investors own 53.50% of the company’s stock.

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