General Electric (NYSE:GE) Price Target Raised to $235.00 at Deutsche Bank Aktiengesellschaft

General Electric (NYSE:GE) had its target price upped by Deutsche Bank Aktiengesellschaft from $212.00 to $235.00 in a research note released on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the conglomerate’s stock.

A number of other research analysts have also weighed in on the company. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a buy rating in a report on Monday, July 1st. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Barclays lifted their target price 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. Sanford C. Bernstein initiated coverage on General Electric in a report on Tuesday, September 10th. They set an outperform rating and a $201.00 price objective on the stock. Finally, StockNews.com downgraded shares of General Electric from a buy rating to a hold rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $193.00.

General Electric Stock Up 1.7 %

General Electric stock opened at $187.08 on Thursday. The firm has a market cap of $204.78 billion, a price-to-earnings ratio of 61.34, a PEG ratio of 1.87 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 has a 52-week low of $84.42 and a 52-week high of $190.88. The firm has a 50 day moving average price of $173.52 and a two-hundred day moving average price of $166.06.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared 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 is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.60%. General Electric’s payout ratio is 36.72%.

Institutional Investors Weigh In On General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Vanguard Group Inc. increased 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 purchasing an additional 550,996 shares during the period. Capital International Investors raised 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 worth $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC purchased a new stake in General Electric in the second quarter worth $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 worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the last quarter. 74.77% of the stock is currently owned by 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.