General Electric (NYSE:GE) Receives $196.86 Average Price Target from Brokerages

General Electric (NYSE:GE) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $200.93.

Several analysts recently issued reports on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th.

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 the company. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the third quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric during the second quarter valued at about $32,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE GE opened at $179.10 on Friday. The company has a fifty day simple moving average of $179.90 and a 200 day simple moving average of $168.48. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $194.20 billion, a P/E ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. General Electric’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

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.