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

General Electric (NYSE:GE) had its target price raised by Argus from $170.00 to $180.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on General Electric from $180.00 to $148.00 and set an overweight rating for the company in a report on Tuesday, April 2nd. Jefferies Financial Group decreased their price objective on shares of General Electric from $195.00 to $180.00 and set a buy rating for the company in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $210.00 to $190.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. TD Cowen raised shares of General Electric from a hold rating to a buy rating and upped their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their price objective on shares of General Electric from $165.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $170.00.

General Electric Stock Up 0.7 %

Shares of NYSE GE opened at $162.35 on Wednesday. General Electric has a 12-month low of $77.28 and a 12-month high of $163.65. The company has a market cap of $177.71 billion, a P/E ratio of 53.23, a P/E/G ratio of 3.03 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $160.72 and a 200 day moving average price of $136.27.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating 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 prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that General Electric will post 3.95 EPS for the current fiscal year.

General Electric Increases Dividend

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

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the 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 transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’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 transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was 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 in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Large investors have recently bought and sold shares of the business. Halpern Financial Inc. lifted its holdings in General Electric by 968.4% in 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 last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. CGC Financial Services LLC increased its stake in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC increased its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the period. Finally, Horrell Capital Management Inc. acquired a new stake in shares of General Electric in the first quarter valued at approximately $44,000. 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.