General Electric (NYSE:GE) Price Target Raised to $210.00

General Electric (NYSE:GE) had its price target lifted by Wells Fargo & Company from $205.00 to $210.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

A number of other research analysts have also recently issued reports on GE. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

Shares of GE opened at $181.78 on Wednesday. General Electric has a one year low of $84.58 and a one year high of $194.80. The company has a 50-day simple moving average of $179.51 and a two-hundred day simple moving average of $168.15. 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 firm has a market capitalization of $198.98 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

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

General Electric Dividend Announcement

The business also recently disclosed 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 0.62%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Institutional Investors Weigh In On General Electric

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in shares of General Electric during the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC increased its position in shares of General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Senator Investment Group LP bought a new position in shares of General Electric in the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL boosted its holdings in shares of General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after buying an additional 7,670 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.