General Electric (NYSE:GE) Receives $208.73 Average PT from Brokerages

General Electric (NYSE:GE) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $208.73.

A number of equities analysts have recently weighed in on the company. Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company raised their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of General Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC boosted its stake in shares of General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric in the 4th quarter valued at $733,000. State Street Corp boosted its position in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Soltis Investment Advisors LLC raised its holdings in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares during the period. Finally, World Investment Advisors LLC lifted its stake in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

GE stock opened at $205.89 on Tuesday. 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 $222.83 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65. The firm has a 50 day moving average of $176.42 and a 200-day moving average of $175.79.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

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.