General Electric (NYSE:GE) Given New $228.00 Price Target at Deutsche Bank Aktiengesellschaft

General Electric (NYSE:GE) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $235.00 to $228.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

GE has been the topic of several other reports. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. 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. Finally, Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Price Performance

Shares of NYSE:GE opened at $171.96 on Thursday. The company’s fifty day moving average price is $174.45 and its 200 day moving average price is $173.06. General Electric has a 12 month low of $99.34 and a 12 month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $186.11 billion, a P/E ratio of 30.22, a P/E/G ratio of 1.63 and a beta of 1.17.

General Electric (NYSE:GE) last announced 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 analyst estimates of $9.02 billion. During the same period last year, the business earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction 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. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its position in shares of General Electric by 18.4% in the fourth quarter. Versant Capital Management Inc now owns 18,180 shares of the conglomerate’s stock valued at $3,032,000 after purchasing an additional 2,828 shares during the last quarter. Old Port Advisors grew its position in shares of General Electric by 1.4% in the fourth quarter. Old Port Advisors now owns 5,609 shares of the conglomerate’s stock valued at $936,000 after purchasing an additional 78 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of General Electric by 3.8% in the third quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock valued at $249,596,000 after purchasing an additional 48,543 shares during the last quarter. SMART Wealth LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $354,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $44,725,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.