General Electric (NYSE:GE) Price Target Raised to $190.00 at Jefferies Financial Group

General Electric (NYSE:GE) had its target price hoisted by Jefferies Financial Group from $185.00 to $190.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Several other research analysts have also recently weighed in on GE. Royal Bank of Canada lifted their price target on General Electric from $165.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday, April 24th. Barclays cut their price objective on General Electric from $181.00 to $175.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective 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 boosted their price objective on General Electric from $170.00 to $180.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on General Electric from $148.00 to $175.00 and gave the company an overweight rating in a research report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $181.36.

General Electric Stock Down 1.0 %

Shares of GE stock opened at $158.97 on Friday. The stock has a 50 day moving average of $162.36 and a 200 day moving average of $151.59. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The stock 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 has a twelve month low of $84.42 and a twelve month high of $170.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. As a group, sell-side analysts expect that General Electric will post 4 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of General Electric by 122.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,988 shares of the conglomerate’s stock worth $807,000 after purchasing an additional 2,747 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of General Electric by 37.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 463,645 shares of the conglomerate’s stock worth $83,388,000 after purchasing an additional 126,523 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of General Electric during the 1st quarter worth $131,000. Cetera Advisor Networks LLC boosted its holdings in General Electric by 30.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 131,590 shares of the conglomerate’s stock valued at $23,098,000 after acquiring an additional 30,464 shares during the period. Finally, Cetera Advisors LLC boosted its holdings in General Electric by 51.3% during the 1st quarter. Cetera Advisors LLC now owns 67,249 shares of the conglomerate’s stock valued at $11,804,000 after acquiring an additional 22,815 shares during the period. 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.