General Electric (NYSE:GE) PT Raised to $200.00 at Bank of America

General Electric (NYSE:GE) had its target price boosted by Bank of America from $180.00 to $200.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. Bank of America‘s price objective suggests a potential upside of 11.33% from the stock’s previous close.

GE has been the subject of several other research reports. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup raised their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

NYSE:GE opened at $179.64 on Wednesday. The stock has a 50 day moving average price of $179.51 and a 200 day moving average price of $168.15. The stock has a market cap of $196.64 billion, a PE ratio of 58.90, a P/E/G ratio of 1.86 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 has a one year low of $84.58 and a one year high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. Equities research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

Hedge Funds Weigh In On General Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Orrstown Financial Services Inc. raised its stake in shares of General Electric by 556.5% in the third quarter. Orrstown Financial Services Inc. now owns 10,143 shares of the conglomerate’s stock valued at $1,913,000 after acquiring an additional 8,598 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in General Electric by 13.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 259,560 shares of the conglomerate’s stock worth $49,012,000 after purchasing an additional 30,383 shares during the period. TCI Wealth Advisors Inc. raised its position in General Electric by 3.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 4,969 shares of the conglomerate’s stock valued at $937,000 after purchasing an additional 146 shares in the last quarter. Concord Wealth Partners boosted its stake in shares of General Electric by 35.2% in the 3rd quarter. Concord Wealth Partners now owns 4,573 shares of the conglomerate’s stock valued at $862,000 after buying an additional 1,191 shares during the period. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of General Electric during the third quarter worth about $805,000. Hedge funds and other institutional investors 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.