JPMorgan Chase & Co. Issues Positive Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its target price upped by JPMorgan Chase & Co. from $190.00 to $210.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the conglomerate’s stock.

Several other research firms have also recently issued reports on GE. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target 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. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday. Finally, Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.80.

General Electric Stock Performance

NYSE:GE opened at $196.81 on Friday. The company’s 50-day moving average price is $174.93 and its 200-day moving average price is $174.77. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $213.00 billion, a P/E ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, sell-side analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. 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 institutional investors have recently bought and sold shares of GE. Tsfg LLC boosted its position in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares in the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares during the period. Saxon Interests Inc. increased its position in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares in the last quarter. Strategic Advisors LLC increased its position in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its position in General Electric by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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.