General Electric (NYSE:GE) PT Raised to $225.00

General Electric (NYSE:GE) had its price objective raised by Sanford C. Bernstein from $201.00 to $225.00 in a report released on Monday morning, MarketBeat.com reports. They currently have an outperform rating on the conglomerate’s stock.

GE has been the subject of a number of other research reports. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group boosted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.86.

General Electric Stock Performance

NYSE GE opened at $192.18 on Monday. The stock has a market capitalization of $210.36 billion, a price-to-earnings ratio of 63.01, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $194.33. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $177.46 and a 200 day moving average of $166.91.

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

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s payout ratio is 36.72%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GE. Virtu Financial LLC lifted its stake in General Electric by 38.0% during the fourth quarter. Virtu Financial LLC now owns 3,865 shares of the conglomerate’s stock worth $493,000 after purchasing an additional 1,064 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of General Electric by 5.7% during the fourth quarter. Integrated Advisors Network LLC now owns 5,609 shares of the conglomerate’s stock worth $716,000 after purchasing an additional 302 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of General Electric during the fourth quarter worth about $52,000. Wellington Management Group LLP grew its holdings in shares of General Electric by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock worth $17,054,000 after buying an additional 2,055 shares during the last quarter. Finally, SageView Advisory Group LLC grew its holdings in shares of General Electric by 38.5% during the fourth quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock worth $1,035,000 after buying an additional 2,147 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.