General Electric (NYSE:GE) Price Target Raised to $190.00

General Electric (NYSE:GE) had its target price lifted by Jefferies Financial Group from $185.00 to $190.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

GE has been the topic of several other research reports. UBS Group upped their price objective on General Electric from $191.00 to $201.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the company a buy rating in a research report on Monday, June 10th. Argus increased their target price on General Electric from $170.00 to $180.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They set a buy rating and a $160.00 target price on the stock. Finally, The Goldman Sachs Group increased their target price on General Electric from $190.00 to $211.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $181.36.

General Electric Price Performance

Shares of NYSE GE opened at $158.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The business’s 50 day moving average price is $162.36 and its 200 day moving average price is $151.59. The firm has a market cap of $174.01 billion, a P/E ratio of 52.12, a P/E/G ratio of 1.69 and a beta of 1.23.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that General Electric will post 4 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares during the period. Capital International Investors boosted its stake in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Capital World Investors boosted its stake in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Norges Bank purchased a new position in shares of General Electric in the 4th quarter valued at about $1,193,159,000. Finally, Morgan Stanley boosted its stake in shares of General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after buying an additional 434,736 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.