General Electric (NYSE:GE) PT Raised to $210.00 at Royal Bank of Canada

General Electric (NYSE:GE) had its price target raised by stock analysts at Royal Bank of Canada from $190.00 to $210.00 in a research report issued to clients and investors on Tuesday. Royal Bank of Canada’s price target indicates a potential upside of 18.03% from the company’s previous close.

GE has been the subject of a number of other reports. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.53.

General Electric Stock Down 8.4 %

Shares of NYSE:GE traded down $16.31 during midday trading on Tuesday, reaching $177.92. 5,054,012 shares of the company were exchanged, compared to its average volume of 6,319,912. The firm has a market cap of $194.75 billion, a PE ratio of 58.50, a P/E/G ratio of 1.86 and a beta of 1.18. The stock has a fifty day simple moving average of $179.06 and a two-hundred day simple moving average of $167.91. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tsfg LLC boosted its holdings in General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the last quarter. Macroview Investment Management LLC raised 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 buying an additional 58 shares during the last quarter. Strategic Advisors LLC raised its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its position in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares during the last quarter. Finally, New England Research & Management Inc. raised its position in shares of General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds 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.