Royal Bank of Canada Boosts General Electric (NYSE:GE) Price Target to $175.00

General Electric (NYSE:GE) had its price target lifted by Royal Bank of Canada from $165.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the conglomerate’s stock.

Several other analysts have also issued reports on GE. TD Cowen upgraded shares of General Electric from a hold rating to a buy rating and upped their price target for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Jefferies Financial Group cut their price target on shares of General Electric from $195.00 to $180.00 and set a buy rating for the company in a research report on Wednesday, April 10th. Barclays cut their price target on shares of General Electric from $181.00 to $175.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. StockNews.com assumed coverage on shares of General Electric in a research report on Sunday, April 21st. They set a hold rating for the company. Finally, Oppenheimer reiterated a market perform rating on shares of General Electric in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $170.00.

General Electric Stock Up 0.7 %

Shares of NYSE:GE opened at $162.31 on Wednesday. General Electric has a 52-week low of $77.28 and a 52-week high of $163.65. The firm has a fifty day moving average of $160.72 and a 200 day moving average of $136.09. The firm has a market capitalization of $177.67 billion, a PE ratio of 53.22, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that General Electric will post 3.95 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Electric

A number of institutional investors have recently modified their holdings of the stock. Walker Asset Management LLC grew its position in General Electric by 1.7% during the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 70 shares during the last quarter. BKM Wealth Management LLC grew its holdings in shares of General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after buying an additional 72 shares during the last quarter. Great Valley Advisor Group Inc. increased its position in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in General Electric by 1.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after acquiring an additional 75 shares during the last quarter. Finally, Schnieders Capital Management LLC lifted its position in General Electric by 1.1% in the 1st quarter. Schnieders Capital Management LLC now owns 6,817 shares of the conglomerate’s stock valued at $1,197,000 after acquiring an additional 75 shares in the last quarter. 74.77% of the stock is 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.