Bank of America Increases General Electric (NYSE:GE) Price Target to $200.00

General Electric (NYSE:GE) had its price objective hoisted by Bank of America from $180.00 to $200.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Other analysts also recently issued research reports about the company. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on General Electric from $190.00 to $210.00 in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

General Electric stock opened at $179.10 on Wednesday. The firm has a market capitalization of $194.20 billion, a P/E ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18. The business has a 50-day moving average of $179.90 and a 200-day moving average of $168.38. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, equities analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GE. Capital International Investors lifted its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter worth approximately $2,613,332,000. Capital World Investors raised its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Legal & General Group Plc raised its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing 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.