Royal Bank of Canada Increases General Electric (NYSE:GE) Price Target to $210.00

General Electric (NYSE:GE) had its price target boosted by Royal Bank of Canada from $190.00 to $210.00 in a research report released on Tuesday morning.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

NYSE:GE opened at $179.16 on Tuesday. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The company has a 50-day moving average of $179.71 and a 200-day moving average of $168.23. The firm has a market cap of $196.11 billion, a price-to-earnings ratio of 58.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. 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 (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Hedge Funds Weigh In On General Electric

A number of institutional investors have recently modified their holdings of GE. Capital International Investors grew its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter worth $2,613,332,000. Capital World Investors grew its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Legal & General Group Plc grew its stake in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

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.