General Electric (NYSE:GE) PT Raised to $175.00 at Royal Bank of Canada

General Electric (NYSE:GE) had its price objective raised by Royal Bank of Canada from $165.00 to $175.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the conglomerate’s stock.

A number of other research analysts have also recently commented on the company. Bank of America dropped their price target on General Electric from $175.00 to $165.00 and set a buy rating on the stock in a research report on Monday, April 8th. The Goldman Sachs Group boosted their price objective on General Electric from $190.00 to $211.00 and gave the company a buy rating in a research note on Wednesday. Jefferies Financial Group decreased their price objective on General Electric from $195.00 to $180.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. TheStreet upgraded General Electric from a c+ rating to a b+ rating in a research note on Tuesday, January 23rd. Finally, StockNews.com began coverage on General Electric in a research note on Sunday. They set a hold rating on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $167.29.

General Electric Stock Down 2.1 %

GE stock opened at $159.19 on Wednesday. The stock’s fifty day simple moving average is $160.20 and its two-hundred day simple moving average is $135.55. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. General Electric has a 1-year low of $76.87 and a 1-year high of $163.65. The stock has a market cap of $174.04 billion, a P/E ratio of 52.19, a P/E/G ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Analysts expect that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of large investors have recently modified their holdings of GE. Wedge Capital Management L L P NC bought a new position in General Electric during the 3rd quarter worth approximately $224,000. Summit Global Investments bought a new stake in shares of General Electric in the 3rd quarter worth approximately $218,000. RFG Advisory LLC grew its position in shares of General Electric by 9.6% in the 3rd quarter. RFG Advisory LLC now owns 3,197 shares of the conglomerate’s stock worth $353,000 after buying an additional 280 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of General Electric by 6.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock worth $2,923,000 after buying an additional 1,706 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of General Electric by 25.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock worth $428,000 after buying an additional 794 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.