General Electric (NYSE:GE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of General Electric (NYSE:GE) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $211.31.

Several analysts have issued reports on GE shares. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th.

Hedge Funds Weigh In On General Electric

Institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its holdings in General Electric by 14.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,013 shares of the conglomerate’s stock valued at $757,000 after purchasing an additional 513 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of General Electric by 34.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 76,795 shares of the conglomerate’s stock valued at $14,483,000 after buying an additional 19,766 shares during the period. Quest Partners LLC grew its holdings in General Electric by 126.0% during the third quarter. Quest Partners LLC now owns 5,156 shares of the conglomerate’s stock worth $972,000 after acquiring an additional 2,875 shares during the period. OneAscent Financial Services LLC purchased a new position in General Electric during the third quarter valued at approximately $625,000. Finally, Prospera Financial Services Inc lifted its holdings in General Electric by 10.4% in the third quarter. Prospera Financial Services Inc now owns 27,571 shares of the conglomerate’s stock valued at $5,201,000 after acquiring an additional 2,605 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

GE stock opened at $212.18 on Wednesday. General Electric has a 1-year low of $133.99 and a 1-year high of $212.76. The business has a 50-day moving average price of $200.12 and a 200 day moving average price of $185.83. The company has a market capitalization of $227.73 billion, a P/E ratio of 35.42, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.