General Electric (NYSE:GE) Given New $190.00 Price Target at Royal Bank of Canada

General Electric (NYSE:GE) had its target price upped by Royal Bank of Canada from $175.00 to $190.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the conglomerate’s stock.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a buy rating in a report on Monday, June 10th. JPMorgan Chase & Co. raised their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an overweight rating in a report on Monday, May 13th. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an overweight rating in a report on Wednesday. Argus raised their price target on shares of General Electric from $170.00 to $180.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $183.93.

General Electric Stock Performance

NYSE:GE opened at $169.81 on Wednesday. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $162.35 and a 200-day moving average of $156.49. The firm has a market cap of $184.13 billion, a price-to-earnings ratio of 55.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts forecast that General Electric will post 4.13 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Institutional investors and hedge funds have recently bought and sold shares of the stock. Halpern Financial Inc. increased its position in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new position in General Electric during the fourth quarter worth $27,000. Capital Analysts LLC increased its position in General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. MFA Wealth Advisors LLC acquired a new stake in General Electric during the second quarter worth $31,000. Finally, Bfsg LLC acquired a new stake in General Electric during the fourth quarter worth $32,000. Institutional investors 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.