General Electric (NYSE:GE) Given New $202.00 Price Target at Melius Research

General Electric (NYSE:GE) had its price objective increased by Melius Research from $194.00 to $202.00 in a report published on Tuesday.

A number of other research firms have also commented on GE. Jefferies Financial Group boosted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $198.53.

General Electric Price Performance

Shares of GE stock opened at $176.59 on Tuesday. The stock’s fifty day simple moving average is $179.24 and its 200 day simple moving average is $168.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market cap of $193.30 billion, a price-to-earnings ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a one year low of $84.58 and a one year high of $194.80.

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

General Electric Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is presently 36.72%.

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hoertkorn Richard Charles bought a new stake in General Electric in the third quarter valued at about $13,459,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of General Electric by 69.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,357 shares of the conglomerate’s stock worth $822,000 after acquiring an additional 1,790 shares in the last quarter. Global Assets Advisory LLC increased its holdings in shares of General Electric by 94.4% in the third quarter. Global Assets Advisory LLC now owns 8,704 shares of the conglomerate’s stock worth $1,622,000 after acquiring an additional 4,227 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of General Electric in the third quarter worth about $212,000. Finally, Romano Brothers AND Company bought a new stake in shares of General Electric in the third quarter worth about $207,000. 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.