Royal Bank of Canada Increases General Electric (NYSE:GE) Price Target to $210.00

General Electric (NYSE:GE) had its target price upped by Royal Bank of Canada from $190.00 to $210.00 in a report issued on Tuesday morning.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Down 0.3 %

GE opened at $179.16 on Tuesday. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm’s fifty day moving average price is $179.71 and its two-hundred day moving average price is $168.23. The company has a market capitalization of $196.11 billion, a P/E ratio of 58.74, a P/E/G ratio of 1.86 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 for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio is presently 36.72%.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently modified their holdings of the business. Studio Investment Management LLC boosted its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in General Electric during the 2nd quarter worth approximately $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.