General Electric (NYSE:GE) Given New $235.00 Price Target at Citigroup

General Electric (NYSE:GE) had its price objective lifted by Citigroup from $216.00 to $235.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the conglomerate’s stock.

GE has been the subject of a number of other research reports. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average 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 stock has a market cap of $210.29 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The business has a fifty day simple moving average of $175.33 and a 200-day simple moving average of $175.15. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $103.75 and a 12 month high of $207.65.

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

General Electric Announces Dividend

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

Insider Activity at General Electric

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

Institutional Investors Weigh In On General Electric

Several large investors have recently modified their holdings of GE. State Street Corp boosted its holdings in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in General Electric by 6.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after buying an additional 413,388 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in General Electric by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after buying an additional 457,038 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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.