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 reduced by investment analysts at Royal Bank of Canada from $210.00 to $200.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.08% from the stock’s current price.

Several other research firms have also recently commented on GE. UBS Group raised their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

NYSE:GE traded up $5.02 during trading hours on Wednesday, reaching $181.68. 7,133,686 shares of the company’s stock were exchanged, compared to its average volume of 6,374,226. The firm has a market capitalization of $198.87 billion, a price-to-earnings ratio of 59.52, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a 50-day moving average of $179.24 and a 200 day moving average of $168.05. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Newport Trust Company LLC acquired a new position in General Electric during the second quarter valued at approximately $2,613,332,000. Capital World Investors increased its stake in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors increased its stake in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in General Electric during the second quarter valued at $580,200,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.