General Electric (NYSE:GE – Free Report) had its target price increased by Bank of America from $180.00 to $200.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.
A number of other equities research analysts also recently weighed in on GE. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.
Read Our Latest Research Report on General Electric
General Electric Stock Down 0.3 %
General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the business earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that General Electric will post 4.2 EPS for the current fiscal year.
General Electric Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.
Institutional Trading of General Electric
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Studio Investment Management LLC grew its holdings in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $32,000. 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.
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