General Electric (NYSE:GE) Price Target Cut to $200.00

General Electric (NYSE:GE) had its price target dropped by equities researchers at Royal Bank of Canada from $210.00 to $200.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price objective points to a potential upside of 11.33% from the company’s previous close.

A number of other equities analysts have also weighed in on GE. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

GE opened at $179.64 on Wednesday. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80. The stock has a 50-day moving average price of $179.51 and a 200-day moving average price of $168.15. The firm has a market cap of $196.64 billion, a PE ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in General Electric by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock valued at $17,054,000 after acquiring an additional 2,055 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of General Electric by 14.4% during the 1st quarter. Brookstone Capital Management now owns 21,347 shares of the conglomerate’s stock worth $3,747,000 after purchasing an additional 2,682 shares during the period. Sovereign Financial Group Inc. increased its position in General Electric by 74.9% during the 1st quarter. Sovereign Financial Group Inc. now owns 2,934 shares of the conglomerate’s stock worth $515,000 after purchasing an additional 1,256 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in General Electric by 6.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,377 shares of the conglomerate’s stock valued at $1,646,000 after buying an additional 579 shares during the period. Finally, Investment Partners LTD. acquired a new position in General Electric during the first quarter valued at approximately $257,000. Institutional investors and hedge funds 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.