Bank of America Issues Positive Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its target price hoisted by Bank of America from $200.00 to $225.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Performance

Shares of General Electric stock opened at $194.30 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $175.33 and a two-hundred day simple moving average of $175.15. General Electric has a 12 month low of $103.75 and a 12 month high of $207.65. The firm has a market capitalization of $210.29 billion, a P/E ratio of 34.15, a P/E/G ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, equities analysts forecast that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Friday, December 27th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. General Electric’s payout ratio is currently 19.68%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Trading of General Electric

A number of institutional investors have recently made changes to their positions in GE. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter worth $27,000. Hager Investment Management Services LLC purchased a new position in shares of General Electric during the 4th quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric during the 3rd quarter valued at about $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.