General Electric (NYSE:GE) Receives $191.36 Consensus Target Price from Brokerages

General Electric (NYSE:GE) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $191.36.

GE has been the subject of a number of research reports. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday, September 20th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein assumed coverage on shares of General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. Finally, Wells Fargo & Company upped their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

General Electric Price Performance

GE stock opened at $186.30 on Wednesday. The company’s fifty day moving average price is $172.31 and its 200-day moving average price is $169.45. General Electric has a one year low of $84.42 and a one year high of $190.88. The company has a market capitalization of $203.93 billion, a PE ratio of 61.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Hedge Funds Weigh In On General Electric

A number of large investors have recently bought and sold shares of GE. Newport Trust Company LLC purchased a new position in shares of General Electric during the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors lifted its holdings 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 in the last quarter. Capital International Investors grew its position in shares of 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 purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of 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 worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric during the 2nd quarter worth about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.