General Electric (NYSE:GE) Price Target Raised to $200.00

General Electric (NYSE:GE) had its target price lifted by Bank of America from $180.00 to $200.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the conglomerate’s stock.

Other research analysts have also recently issued research reports about the company. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their price target on General Electric from $190.00 to $210.00 in a research note on Tuesday. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $179.16 on Wednesday. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The business’s fifty day moving average price is $179.71 and its two-hundred day moving average price is $168.23. The firm has a market capitalization of $196.11 billion, a PE ratio of 58.74, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Institutional Investors Weigh In On General Electric

Several hedge funds have recently modified their holdings of GE. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in General Electric in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in General Electric in the 2nd quarter worth about $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Company Profile

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.