General Electric (NYSE:GE) Price Target Cut to $200.00

General Electric (NYSE:GE) had its target price cut by Royal Bank of Canada from $210.00 to $200.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the conglomerate’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research 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 target price of $200.93.

General Electric Trading Down 0.4 %

Shares of NYSE:GE opened at $179.10 on Wednesday. The company’s 50-day moving average price is $179.90 and its two-hundred day moving average price is $168.48. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $84.58 and a one year high of $194.80. The stock has a market capitalization of $194.20 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Studio Investment Management LLC grew its position 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 position in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position 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.

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.