Brokerages Set General Electric (NYSE:GE) PT at $190.38

General Electric (NYSE:GE) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $190.38.

A number of research analysts have recently commented on GE shares. Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th.

General Electric Stock Up 0.6 %

Shares of General Electric stock opened at $174.62 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The company has a market cap of $189.34 billion, a P/E ratio of 57.25, a PEG ratio of 1.73 and a beta of 1.21. The company’s fifty day simple moving average is $165.47 and its two-hundred day simple moving average is $162.96.

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

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Hedge Funds Weigh In On General Electric

Hedge funds have recently bought and sold shares of the business. Studio Investment Management LLC raised its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the second quarter worth $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric during the first quarter valued at $34,000. Financial Connections Group Inc. bought a new position in General Electric in the second quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in General Electric in the first quarter worth about $37,000. 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.