General Electric (NYSE:GE) Raised to Buy at UBS Group

UBS Group upgraded shares of General Electric (NYSE:GE) from a neutral rating to a buy rating in a research report released on Wednesday, BenzingaRatingsTable reports. UBS Group currently has $14.00 price target on the conglomerate’s stock, up from their prior price target of $11.50.

A number of other brokerages also recently issued reports on GE. Morgan Stanley assumed coverage on General Electric in a research note on Thursday, September 5th. They set an equal weight rating and a $10.00 target price for the company. Credit Suisse Group reissued a neutral rating and set a $11.00 target price on shares of General Electric in a research note on Tuesday, December 3rd. William Blair reissued a buy rating on shares of General Electric in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. set a $5.00 target price on General Electric and gave the stock an underweight rating in a research note on Friday, November 1st. Finally, Deutsche Bank increased their target price on General Electric from $11.00 to $12.00 and gave the stock a hold rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven 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 $10.69.

General Electric stock traded up $0.34 during mid-day trading on Wednesday, reaching $11.31. 43,862,520 shares of the company were exchanged, compared to its average volume of 44,560,056. The firm has a market cap of $99.80 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17. The firm’s 50-day simple moving average is $10.80 and its two-hundred day simple moving average is $9.80. General Electric has a twelve month low of $6.70 and a twelve month high of $11.84. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.60 and a current ratio of 1.84.

General Electric (NYSE:GE) last issued its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $23.36 billion during the quarter, compared to the consensus estimate of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. As a group, equities research analysts anticipate that General Electric will post 0.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, December 23rd will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, December 20th. General Electric’s payout ratio is currently 6.15%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC purchased a new position in General Electric during the third quarter worth $25,000. Employers Holdings Inc. acquired a new stake in shares of General Electric during the second quarter worth $28,000. Fusion Family Wealth LLC boosted its holdings in shares of General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of General Electric by 307,700.0% during the second quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of General Electric during the second quarter worth $35,000. 60.22% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for General Electric (NYSE:GE)

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