Will Today’s Wolfe Research Upgrade Ultimately Help The Stock Price of General Electric (NYSE:GE)?

October 2, 2018 - By Vivian Park

General Electric Company (NYSE:GE) Logo

Investors sentiment increased to 0.59 in 2018 Q2. Its up 0.04, from 0.55 in 2018Q1. It is positive, as 95 investors sold General Electric Company shares while 758 reduced holdings. 122 funds opened positions while 381 raised stakes. 4.51 billion shares or 0.71% less from 4.54 billion shares in 2018Q1 were reported.

Macquarie stated it has 0.01% of its portfolio in General Electric Company (NYSE:GE). Capital Investment Counsel reported 0.61% stake. Warren Averett Asset Management Ltd Limited Liability Company holds 72,352 shares. Smith Moore And Com has invested 0.2% of its portfolio in General Electric Company (NYSE:GE). Pinnacle Advisory Grp Inc has 0.02% invested in General Electric Company (NYSE:GE) for 20,373 shares. Southeast Asset Advisors Incorporated holds 0.05% or 12,865 shares in its portfolio. Nottingham Advsrs Inc has invested 0.07% of its portfolio in General Electric Company (NYSE:GE). Mason Street Advsrs Ltd Liability Corp accumulated 1.22M shares. Berkshire Asset Mngmt Lc Pa accumulated 1.05 million shares or 1.34% of the stock. Prudential Public Ltd Com holds 0.24% or 5.75 million shares in its portfolio. Howe & Rusling invested 0.21% of its portfolio in General Electric Company (NYSE:GE). Dnb Asset Mgmt As has invested 0% of its portfolio in General Electric Company (NYSE:GE). Credit Suisse Ag invested in 17.66M shares or 0.24% of the stock. Amer Century Cos reported 0.17% stake. Public Sector Pension Inv Board reported 488,314 shares.

Since July 24, 2018, it had 1 insider purchase, and 0 insider sales for $2.49 million activity.

General Electric (NYSE:GE) Stock Upgrade

In a note revealed earlier today, Wolfe Research raised General Electric (NYSE:GE) shares to a solid Outperform rating from their previous Peer Perform rating and they currently have a $16 target price per share on shares. Wolfe Research’s target price per share suggests a possible upside of 34.23 % over the last stock price of the stock.

General Electric Company (NYSE:GE) Ratings Coverage

Among 12 analysts covering General Electric (NYSE:GE), 2 have Buy rating, 1 Sell and 9 Hold. Therefore 17% are positive. General Electric has $21 highest and $1100 lowest target. $14.50’s average target is 21.64% above currents $11.92 stock price. General Electric had 16 analyst reports since April 3, 2018 according to SRatingsIntel. UBS maintained the shares of GE in report on Wednesday, September 5 with “Neutral” rating. The rating was downgraded by Argus Research on Monday, July 23 to “Hold”. On Monday, April 23 the stock rating was maintained by RBC Capital Markets with “Hold”. Deutsche Bank maintained the shares of GE in report on Friday, September 28 with “Hold” rating. J.P. Morgan maintained the shares of GE in report on Wednesday, May 30 with “Sell” rating. The stock has “Hold” rating by Deutsche Bank on Thursday, July 12. As per Friday, July 27, the company rating was maintained by Bank of America. The firm earned “Hold” rating on Tuesday, June 26 by CFRA. The stock has “Sell” rating by J.P. Morgan on Monday, April 9. The rating was maintained by Citigroup with “Buy” on Friday, June 29.

The stock decreased 1.41% or $0.17 during the last trading session, reaching $11.92. About 21.90 million shares traded. General Electric Company (NYSE:GE) has declined 47.26% since October 2, 2017 and is downtrending. It has underperformed by 62.88% the S&P500.

Analysts await General Electric Company (NYSE:GE) to report earnings on October, 19. They expect $0.22 earnings per share, down 24.14 % or $0.07 from last year’s $0.29 per share. GE’s profit will be $1.91 billion for 13.55 P/E if the $0.22 EPS becomes a reality. After $0.19 actual earnings per share reported by General Electric Company for the previous quarter, Wall Street now forecasts 15.79 % EPS growth.

General Electric Company operates as an infrastructure and technology firm worldwide. The company has market cap of $103.60 billion. The Company’s Power segment offers gas and steam power systems; maintenance, service, and upgrade solutions; distributed power gas engines; water treatment, wastewater treatment, and process system solutions; and nuclear reactors, fuels, and support services. It currently has negative earnings. The companyÂ’s Renewable Energy segment provides wind turbine platforms, and hardware and software; onshore and offshore wind turbines; and solutions, products, and services to hydropower industry.

More notable recent General Electric Company (NYSE:GE) news were published by: Seekingalpha.com which released: “General Electric: Bulls Vs. Bears” on October 01, 2018, also Seekingalpha.com with their article: “‘Fight for the company,’ GE CEO says as turbine flaw under control” published on September 28, 2018, Seekingalpha.com published: “GE: Let The Fun Begin” on October 01, 2018. More interesting news about General Electric Company (NYSE:GE) were released by: Seekingalpha.com and their article: “Will General Electric Break $10 On Final Capitulation?” published on September 24, 2018 as well as Seekingalpha.com‘s news article titled: “GE’s CEO Departure: When Any News Is Good News” with publication date: October 01, 2018.

General Electric Company (NYSE:GE) Institutional Positions Chart

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