General Electric (NYSE:GE) Price Target Increased to $230.00 by Analysts at UBS Group

General Electric (NYSE:GE) had its price objective increased by UBS Group from $223.00 to $230.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Several other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada upped their target price on shares of General Electric from $190.00 to $210.00 in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Sanford C. Bernstein upped 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, Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 0.4 %

Shares of General Electric stock opened at $179.10 on Wednesday. The company’s fifty day moving average price is $179.90 and its two-hundred day moving average price is $168.48. The firm has a market capitalization of $194.20 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

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, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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

Hedge Funds Weigh In On General Electric

Several hedge funds have recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors raised its stake in shares of General Electric by 2,818.1% during the first 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 last quarter. Capital International Investors lifted its holdings in General Electric by 9.9% in the first 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 period. Canada Pension Plan Investment Board boosted its stake in General Electric by 221.6% in 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 acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric during the 2nd quarter worth $580,200,000. Institutional investors own 74.77% of the company’s stock.

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.