General Electric (NYSE:GE) Given New $216.00 Price Target at Citigroup

General Electric (NYSE:GE) had its price target upped by Citigroup from $198.00 to $216.00 in a report issued on Thursday, Benzinga reports. Citigroup currently has a buy rating on the conglomerate’s stock.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They issued an outperform rating and a $201.00 target price on the stock. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a buy rating in a research note on Monday, July 1st. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a buy rating in a report on Friday, June 28th. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $195.14.

General Electric Stock Up 1.6 %

Shares of NYSE GE opened at $191.16 on Thursday. The firm has a market cap of $209.25 billion, a P/E ratio of 62.68, a price-to-earnings-growth 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 1 year low of $84.42 and a 1 year high of $191.76. The firm’s 50 day moving average price is $175.61 and its 200 day moving average price is $166.50.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s dividend payout ratio is presently 36.72%.

Hedge Funds Weigh In On General Electric

Hedge funds have recently bought and sold shares of the company. Macroview Investment Management LLC increased its holdings in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the period. Strategic Advisors LLC raised its holdings in shares of General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its position in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the period. New England Research & Management Inc. grew its holdings in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares in the last quarter. Finally, Certified Advisory Corp increased its position in General Electric by 1.0% in the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after acquiring an additional 63 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.