General Electric (NYSE:GE) Price Target Raised to $210.00

General Electric (NYSE:GE) had its price target boosted by JPMorgan Chase & Co. from $190.00 to $210.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

Several other analysts have also recently issued reports on GE. Citigroup upped 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. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.80.

General Electric Stock Performance

NYSE GE opened at $196.81 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $103.75 and a 1-year high of $207.65. The business has a 50 day simple moving average of $175.33 and a two-hundred day simple moving average of $175.08. The stock has a market capitalization of $213.00 billion, a PE ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. General Electric’s payout ratio is currently 18.70%.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Large investors have recently made changes to their positions in the business. State Street Corp boosted its position in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares during the period. Legal & General Group Plc lifted its position in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares in the last quarter. Jennison Associates LLC grew its stake in General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after acquiring an additional 413,388 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other 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.