Deutsche Bank AG has sold 14.3% of its stake in General Electric (NYE:GE), according to a filing with the Securities & Exchange Commission. The bank owned 1,922,832 shares of GE, representing about 0.18% of the company’s stock, worth $161,114,000 at the end of the fourth quarter. Meanwhile, other investors have either increased or decreased their stakes in GE. Vanguard Group has raised its position in the conglomerate’s stock by 0.7%, Geode Capital Management has increased its stake by 1.9%, Pzena Investment Management has increased its stake by 5.6%, Charles Schwab Investment Management has grown its position by 3.9%, and Invesco has grown its position by 2%. Analysts have set a new price target for GE, with a consensus rating of “Strong Buy” and an average target price of $103.20. GE’s stock closed at $101.90 on Wednesday, with a market cap of $110.97 billion. The company has a P/E ratio of 13.23 and a beta of 1.27. In its most recent earnings report, GE beat analysts’ estimates with $0.27 earnings per share for the quarter, compared to the consensus estimate of $0.13.
GE Stock Analysis & Forecast
According to a survey of 21 analysts, the average target price for General Electric Company stock over the next year is USD 94.55, and the average analyst rating is Strong Buy. However, Stock Target Advisor’s analysis of the stock is Slightly Bearish, based on 4 positive signals and 9 negative signals. As of the last closing, the stock price of General Electric Company was USD 101.77, representing an increase of +5.78% over the past week, +5.00% over the past month, and +31.05% over the last year.
General Electric Company, commonly known as GE, is a global conglomerate that operates across a diverse range of industries. Their offerings include aviation technologies, renewable energy solutions, healthcare products and services, and financial services. GE’s portfolio features products such as aircraft engines, power generation systems, and medical imaging equipment.