Analysts Set General Electric (NYSE:GE) Price Target at $91.00

Shares of General Electric (NYSE:GEGet Rating) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $91.00.

GE has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of General Electric from $79.00 to $98.00 in a research note on Friday, November 11th. Citigroup upped their price objective on shares of General Electric from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, October 26th. Wells Fargo & Company upped their price objective on shares of General Electric from $73.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. StockNews.com assumed coverage on shares of General Electric in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $92.00 to $89.00 in a research note on Wednesday, October 26th.

General Electric Stock Performance

General Electric stock opened at $87.87 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $96.01 billion, a PE ratio of -15.89, a P/E/G ratio of 4.91 and a beta of 1.21. The firm has a fifty day simple moving average of $73.49 and a two-hundred day simple moving average of $72.46. General Electric has a twelve month low of $59.93 and a twelve month high of $103.73.

General Electric (NYSE:GEGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The conglomerate reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). The business had revenue of $19.08 billion during the quarter, compared to the consensus estimate of $18.77 billion. General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. Research analysts expect that General Electric will post 2.54 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Tuesday, September 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Monday, September 26th. General Electric’s dividend payout ratio (DPR) is presently -5.79%.

Institutional Investors Weigh In On General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors grew its holdings in shares of General Electric by 42.9% during the first quarter. Capital Research Global Investors now owns 77,124,340 shares of the conglomerate’s stock valued at $7,056,906,000 after buying an additional 23,155,612 shares during the last quarter. Dodge & Cox lifted its position in General Electric by 178.6% during the second quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock valued at $1,844,309,000 after purchasing an additional 18,569,368 shares during the period. FMR LLC lifted its position in General Electric by 8.4% during the second quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock valued at $4,263,567,000 after purchasing an additional 5,197,786 shares during the period. Renaissance Technologies LLC lifted its position in General Electric by 266.5% during the second quarter. Renaissance Technologies LLC now owns 4,324,957 shares of the conglomerate’s stock valued at $275,370,000 after purchasing an additional 3,145,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in General Electric during the second quarter valued at approximately $197,818,000. Hedge funds and other institutional investors own 67.09% of the company’s stock.

About General Electric

(Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Read More

Analyst Recommendations for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.