General Electric’s (GE) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of General Electric (NYSE:GE) in a research report sent to investors on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $200.00 price objective on the conglomerate’s stock.

A number of other research analysts have also recently commented on GE. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price target on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $205.80.

General Electric Stock Down 2.0 %

GE stock opened at $196.81 on Wednesday. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $213.00 billion, a P/E ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. The business’s 50-day moving average price is $174.93 and its 200-day moving average price is $174.77.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%. On average, equities research analysts forecast that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Electric

Several hedge funds have recently made changes to their positions in the company. Calamos Wealth Management LLC lifted its stake in shares of General Electric by 29.5% during the 4th quarter. Calamos Wealth Management LLC now owns 16,089 shares of the conglomerate’s stock worth $2,683,000 after purchasing an additional 3,663 shares during the last quarter. Fourpath Capital Management LLC lifted its stake in shares of General Electric by 54.0% during the 4th quarter. Fourpath Capital Management LLC now owns 12,093 shares of the conglomerate’s stock worth $2,017,000 after purchasing an additional 4,242 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of General Electric by 6.5% during the 4th quarter. Boston Trust Walden Corp now owns 5,739 shares of the conglomerate’s stock worth $957,000 after purchasing an additional 350 shares during the last quarter. Financial Life Planners purchased a new stake in shares of General Electric during the 4th quarter worth $92,000. Finally, Jennison Associates LLC lifted its stake in shares of General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. 74.77% of the stock is currently 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.