General Electric (NYSE:GE) Price Target Raised to $180.00

General Electric (NYSE:GE) had its target price lifted by Argus from $170.00 to $180.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Other research analysts also recently issued reports about the company. Bank of America lifted their price objective on General Electric from $165.00 to $180.00 and gave the stock a buy rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the company a buy rating in a report on Wednesday. TD Cowen upgraded General Electric from a hold rating to a buy rating and boosted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. TheStreet upgraded General Electric from a c+ rating to a b+ rating in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada boosted their price target on General Electric from $165.00 to $175.00 and gave the company an outperform rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $170.00.

General Electric Trading Up 0.7 %

Shares of General Electric stock opened at $162.31 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. General Electric has a 1 year low of $77.28 and a 1 year high of $163.65. The company has a market capitalization of $177.67 billion, a P/E ratio of 53.22, a P/E/G ratio of 3.03 and a beta of 1.29. The business has a 50 day moving average price of $160.72 and a 200 day moving average price of $136.09.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the previous year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 3.95 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Electric

Several large investors have recently modified their holdings of the stock. Walker Asset Management LLC lifted its position in shares of General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares during the last quarter. BKM Wealth Management LLC lifted its position in shares of General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after purchasing an additional 72 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock worth $550,000 after purchasing an additional 74 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of General Electric by 1.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after purchasing an additional 75 shares during the last quarter. Finally, Schnieders Capital Management LLC lifted its position in shares of General Electric by 1.1% during the first quarter. Schnieders Capital Management LLC now owns 6,817 shares of the conglomerate’s stock worth $1,197,000 after purchasing an additional 75 shares during the last quarter. Institutional investors 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.