General Electric’s (GE) “Buy” Rating Reaffirmed at UBS Group

UBS Group reissued their buy rating on shares of General Electric (NYSE:GE) in a research report sent to investors on Friday, TipRanks reports. They currently have a $7.50 target price on the conglomerate’s stock.

A number of other research analysts also recently weighed in on GE. JPMorgan Chase & Co. reiterated a hold rating and set a $5.00 price target on shares of General Electric in a report on Thursday, April 30th. Argus reduced their price target on General Electric from $15.00 to $10.00 and set a buy rating for the company in a research report on Thursday, April 30th. Cfra cut General Electric to a hold rating in a research report on Thursday, April 9th. Cowen reissued a hold rating and set a $8.00 price objective on shares of General Electric in a research report on Monday, May 4th. Finally, Barclays reissued a buy rating and set a $13.00 price objective on shares of General Electric in a research report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. General Electric currently has a consensus rating of Hold and a consensus target price of $9.14.

General Electric stock traded up $0.14 during mid-day trading on Friday, hitting $6.71. 1,664,138 shares of the company’s stock traded hands, compared to its average volume of 120,332,648. The firm has a 50 day moving average price of $6.46 and a 200 day moving average price of $9.70. The company has a quick ratio of 1.69, a current ratio of 1.91 and a debt-to-equity ratio of 1.80. The company has a market cap of $57.47 billion, a PE ratio of -19.91, a price-to-earnings-growth ratio of 35.39 and a beta of 0.94. General Electric has a one year low of $5.48 and a one year high of $13.26.

General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, April 29th. The conglomerate reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.34 billion. General Electric had a positive return on equity of 13.66% and a negative net margin of 2.39%. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. On average, analysts expect that General Electric will post 0.04 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GE. CIBC Private Wealth Group LLC increased its stake in General Electric by 2.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 798,412 shares of the conglomerate’s stock valued at $8,909,000 after acquiring an additional 15,418 shares during the last quarter. CFM Wealth Partners LLC bought a new stake in shares of General Electric in the fourth quarter worth approximately $143,000. Putnam FL Investment Management Co. grew its stake in shares of General Electric by 14.9% in the fourth quarter. Putnam FL Investment Management Co. now owns 72,316 shares of the conglomerate’s stock worth $807,000 after acquiring an additional 9,375 shares during the period. Parallel Advisors LLC grew its stake in shares of General Electric by 10.3% in the fourth quarter. Parallel Advisors LLC now owns 63,879 shares of the conglomerate’s stock worth $713,000 after acquiring an additional 5,949 shares during the period. Finally, GWM Advisors LLC grew its stake in shares of General Electric by 12.8% in the fourth quarter. GWM Advisors LLC now owns 119,555 shares of the conglomerate’s stock worth $1,334,000 after acquiring an additional 13,570 shares during the period. Institutional investors own 62.04% of the company’s stock.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

Featured Article: How to Use the New Google Finance Tool

Analyst Recommendations for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.