Bank of America Boosts General Electric (NYSE:GE) Price Target to $200.00

General Electric (NYSE:GE) had its target price boosted by research analysts at Bank of America from $180.00 to $200.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. Bank of America‘s target price suggests a potential upside of 10.38% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their target price on General Electric from $190.00 to $210.00 in a research report on Tuesday. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, 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 report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.60.

General Electric Stock Performance

GE traded up $4.54 during trading on Wednesday, hitting $181.20. The stock had a trading volume of 5,662,628 shares, compared to its average volume of 6,367,291. 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 company has a 50 day moving average price of $179.24 and a 200-day moving average price of $168.05. General Electric has a one year low of $84.58 and a one year high of $194.80. The firm has a market cap of $198.34 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that General Electric will post 4.2 EPS for the current year.

Institutional Investors Weigh In On General Electric

A number of institutional investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp acquired a new position in shares of General Electric in the third quarter worth approximately $25,000. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new position in General Electric during the second quarter worth $31,000. Richardson Financial Services Inc. bought a new stake in General Electric during the first quarter valued at $34,000. Finally, Financial Connections Group Inc. acquired a new stake in General Electric during the 2nd quarter worth about $32,000. 74.77% of the stock is owned by institutional investors.

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.