General Electric (NYSE:GE) PT Raised to $211.00 at The Goldman Sachs Group

General Electric (NYSE:GE) had its price objective hoisted by The Goldman Sachs Group from $190.00 to $211.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

A number of other research firms have also issued reports on GE. Royal Bank of Canada reduced their target price on General Electric from $180.00 to $160.00 and set an outperform rating on the stock in a research note on Thursday, April 4th. TheStreet raised General Electric from a c+ rating to a b+ rating in a research note on Tuesday, January 23rd. TD Cowen raised General Electric from a hold rating to a buy rating and increased their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Jefferies Financial Group reduced their price target on General Electric from $195.00 to $180.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $210.00 to $190.00 and set a buy rating on the stock in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of Moderate Buy and a consensus target price of $170.00.

General Electric Stock Performance

GE opened at $162.35 on Wednesday. General Electric has a 1-year low of $77.28 and a 1-year high of $163.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $160.72 and its 200 day simple moving average is $136.27. The stock has a market cap of $177.71 billion, a P/E ratio of 53.23, a P/E/G ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the company earned $0.27 EPS. General Electric’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that General Electric will post 3.93 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio is currently 36.72%.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were 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 of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

Several large investors have recently modified their holdings of the stock. Walker Asset Management LLC lifted its position in shares of General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares during the last quarter. BKM Wealth Management LLC lifted its position 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 worth $495,000 after purchasing an additional 72 shares during the last quarter. Great Valley Advisor Group Inc. lifted 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 worth $550,000 after purchasing an additional 74 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of General Electric by 1.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after purchasing an additional 75 shares during the last quarter. Finally, Schnieders Capital Management LLC lifted its position in shares of General Electric by 1.1% during the first quarter. Schnieders Capital Management LLC now owns 6,817 shares of the conglomerate’s stock worth $1,197,000 after purchasing an additional 75 shares during the last quarter. 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.