General Electric (NYSE:GE) Price Target Raised to $230.00

General Electric (NYSE:GE) had its target price upped by UBS Group from $223.00 to $230.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. UBS Group’s price target suggests a potential upside of 24.85% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday. Royal Bank of Canada lifted their price objective on General Electric from $190.00 to $210.00 in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group raised their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a 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’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $200.27.

General Electric Price Performance

Shares of NYSE:GE traded up $7.56 on Wednesday, reaching $184.22. 3,929,572 shares of the company were exchanged, compared to its average volume of 6,357,712. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The firm has a market cap of $201.65 billion, a price-to-earnings ratio of 60.40, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a 50-day moving average of $179.24 and a 200-day moving average of $168.05.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Electric

Institutional investors have recently modified their holdings of the company. Newport Trust Company LLC acquired a new stake in General Electric in the second quarter worth about $2,613,332,000. Capital World Investors lifted its holdings in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Capital International Investors lifted its holdings in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted its holdings in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric in the second quarter worth about $580,200,000. 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.