Citigroup Cuts General Electric (GE) Price Target to $18.00

General Electric (NYSE:GE) had its price objective dropped by stock analysts at Citigroup from $19.00 to $18.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the conglomerate’s stock. Citigroup’s price target points to a potential upside of 68.93% from the stock’s current price.

A number of other brokerages have also recently issued reports on GE. Goldman Sachs Group set a $14.00 target price on General Electric and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada set a $15.00 target price on General Electric and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reissued a “sell” rating and issued a $10.00 target price on shares of General Electric in a research report on Thursday, October 25th. Credit Suisse Group started coverage on General Electric in a research report on Friday, October 12th. They issued a “neutral” rating and a $14.00 target price for the company. Finally, Gordon Haskett started coverage on General Electric in a research report on Friday, October 12th. They issued a “sell” rating for the company. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.89.

Shares of GE traded down $0.51 during mid-day trading on Tuesday, reaching $10.66. The company’s stock had a trading volume of 102,740,497 shares, compared to its average volume of 110,123,496. General Electric has a 12-month low of $10.93 and a 12-month high of $20.75. The company has a market cap of $98.11 billion, a P/E ratio of 10.15, a PEG ratio of 2.21 and a beta of 0.97. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.



A number of institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its position in General Electric by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 2,154,123 shares of the conglomerate’s stock worth $24,320,000 after acquiring an additional 20,500 shares during the period. Congress Park Capital LLC lifted its position in General Electric by 69.3% during the 3rd quarter. Congress Park Capital LLC now owns 18,318 shares of the conglomerate’s stock worth $207,000 after acquiring an additional 7,500 shares during the period. Wagner Bowman Management Corp lifted its position in General Electric by 15.7% during the 3rd quarter. Wagner Bowman Management Corp now owns 52,631 shares of the conglomerate’s stock worth $594,000 after acquiring an additional 7,123 shares during the period. Checchi Capital Advisers LLC lifted its position in General Electric by 10.7% during the 3rd quarter. Checchi Capital Advisers LLC now owns 79,326 shares of the conglomerate’s stock worth $896,000 after acquiring an additional 7,666 shares during the period. Finally, Check Capital Management Inc. CA lifted its position in General Electric by 33.8% during the 3rd quarter. Check Capital Management Inc. CA now owns 2,492,976 shares of the conglomerate’s stock worth $28,146,000 after acquiring an additional 630,172 shares during the period. 53.75% of the stock is owned by institutional investors.

General Electric Company Profile

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

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