General Electric (NYSE:GE) Receives $191.36 Consensus Target Price from Analysts

Shares of General Electric (NYSE:GE) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $191.36.

Several equities analysts have recently commented on the stock. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price target 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. Sanford C. Bernstein initiated coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% in the 2nd 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. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter worth $31,000. Kapitalo Investimentos Ltda bought a new position in shares of General Electric during the 4th quarter worth about $32,000. Financial Connections Group Inc. bought a new position in General Electric during the second quarter valued at about $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric in the first quarter valued at $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.4 %

General Electric stock opened at $185.38 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The firm’s 50-day moving average is $171.51 and its 200-day moving average is $169.77. The company has a market cap of $202.92 billion, a P/E ratio of 60.78, a PEG ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates 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 was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. On average, equities analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

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

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.