General Electric (NYSE:GE) Price Target Cut to $200.00 by Analysts at Royal Bank of Canada

General Electric (NYSE:GE) had its price target dropped by equities research analysts at Royal Bank of Canada from $210.00 to $200.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price target points to a potential upside of 10.08% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of GE traded up $5.02 during midday trading on Wednesday, hitting $181.68. 7,133,686 shares of the company traded hands, compared to its average volume of 6,374,226. The firm has a 50 day moving average of $179.24 and a 200-day moving average of $168.05. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The stock has a market cap of $198.87 billion, a price-to-earnings ratio of 59.52, a PEG ratio of 1.86 and a beta of 1.18. 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 (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

Institutional Investors Weigh In On General Electric

A number of large investors have recently modified their holdings of GE. Newport Trust Company LLC purchased a new position in shares of General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors grew its position 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 last quarter. Capital International Investors grew its position 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 last quarter. Canada Pension Plan Investment Board grew its position in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of General Electric in the 2nd quarter valued at $580,200,000. 74.77% of the stock is 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.