General Electric (NYSE:GE) Price Target Increased to $200.00 by Analysts at Barclays

General Electric (NYSE:GE) had its price target raised by Barclays from $175.00 to $200.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

Several other brokerages also recently weighed in on GE. Argus upped their target price on General Electric from $170.00 to $180.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a buy rating in a research report on Monday, July 1st. Bank of America boosted their price target on General Electric from $165.00 to $180.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their price target on General Electric from $192.00 to $205.00 and gave the stock an overweight rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the stock a buy rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of Moderate Buy and an average price target of $185.71.

General Electric Trading Down 5.6 %

Shares of GE stock opened at $160.17 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market cap of $173.67 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 1.71 and a beta of 1.21. The stock has a 50 day simple moving average of $162.83 and a 200-day simple moving average of $157.62. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. On average, equities research analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter valued at about $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric during the first quarter worth approximately $34,000. Financial Connections Group Inc. purchased a new stake in General Electric during the second quarter worth approximately $32,000. ANTIPODES PARTNERS Ltd purchased a new stake in General Electric during the first quarter worth approximately $37,000. Finally, Macroview Investment Management LLC lifted its stake in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.