General Electric (NYSE:GE) Price Target Raised to $212.00

General Electric (NYSE:GE) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $210.00 to $212.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

A number of other equities analysts have also commented on GE. Royal Bank of Canada raised their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the stock a buy rating in a report on Friday, June 28th. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a buy rating in a report on Monday, July 1st. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Finally, Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They issued an outperform rating and a $201.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $191.36.

General Electric Price Performance

Shares of GE stock opened at $187.43 on Friday. The stock has a 50 day moving average price of $168.69 and a 200 day moving average price of $170.57. General Electric has a 52-week low of $84.42 and a 52-week high of $187.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $205.16 billion, a P/E ratio of 61.45, a P/E/G ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s payout ratio is 36.72%.

Hedge Funds Weigh In On General Electric

A number of large investors have recently made changes to their positions in the business. Studio Investment Management LLC boosted its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the second quarter worth $31,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric during the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric in the 1st quarter worth $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.