Royal Bank of Canada Reaffirms Outperform Rating for General Electric (NYSE:GE)

General Electric (NYSE:GE - Get Free Report)'s stock had its "outperform" rating restated by Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 price objective on the conglomerate's stock. Royal Bank of Canada's target price points to a potential upside of 6.27% from the stock's current price.

Several other analysts also recently weighed in on the stock. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $201.47.

General Electric Stock Performance

Shares of GE traded up $0.70 during mid-day trading on Wednesday, hitting $188.20. The stock had a trading volume of 7,441,992 shares, compared to its average volume of 5,822,603. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $203.69 billion, a PE ratio of 33.08, a PEG ratio of 1.49 and a beta of 1.19. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $194.80. The company's fifty day simple moving average is $174.39 and its two-hundred day simple moving average is $174.49.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the firm posted $0.82 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts expect that General Electric will post 4.23 earnings per share for the current year.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GE. Public Sector Pension Investment Board lifted its position in General Electric by 74.9% in the second quarter. Public Sector Pension Investment Board now owns 42,186 shares of the conglomerate's stock worth $6,706,000 after purchasing an additional 18,064 shares during the period. Evergreen Capital Management LLC raised its stake in shares of General Electric by 2.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,636 shares of the conglomerate's stock valued at $1,055,000 after buying an additional 129 shares in the last quarter. Royal Capital Wealth Management LLC lifted its holdings in shares of General Electric by 115.4% during the 2nd quarter. Royal Capital Wealth Management LLC now owns 3,270 shares of the conglomerate's stock worth $520,000 after acquiring an additional 1,752 shares during the period. Wescott Financial Advisory Group LLC bought a new position in shares of General Electric during the 2nd quarter worth about $622,000. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of General Electric by 9.3% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 764,018 shares of the conglomerate's stock valued at $121,456,000 after acquiring an additional 65,189 shares in the last quarter. Institutional investors 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.