In a report released today, Christopher Glynn from Oppenheimer maintained a Hold rating on General Electric (GE). The company’s shares closed last Monday at $6.11, close to its 52-week low of $5.48.
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 7.4% and a 58.1% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Honeywell International, Generac Holdings, and Acuity Brands.
Currently, the analyst consensus on General Electric is a Moderate Buy with an average price target of $7.98, implying a 30.0% upside from current levels. In a report issued on July 29, Cowen & Co. also maintained a Hold rating on the stock with a $8.00 price target.
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Based on General Electric’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $17.75 billion and GAAP net loss of $1.99 billion. In comparison, last year the company earned revenue of $23.41 billion and had a net profit of $127 million.
Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
General Electric Co. is a technology and financial services company. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services. The Renewable Energy segment provides wind turbine platforms, hardware & software, offshore wind turbines, solutions, products & services to hydropower industry, blades for onshore & offshore wind turbines, and high voltage equipment. The Aviation segment provides jet engines & turboprops for commercial airframes, maintenance, component repair, and overhaul services, as well as replacement parts, additive machines & materials, and engineering services. The Healthcare segment provides healthcare technologies in medical imaging, digital solutions, patient monitoring, and diagnostics, drug discovery, biopharmaceutical manufacturing technologies and performance enhancement solutions. The Capital segment leases & finances aircraft, aircraft engines and helicopters, and also provides financial and underwriting solutions. The company was founded by Thomas Alva Edison in 1878 and is headquartered in Boston, MA.
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