Brokerages Set General Electric (NYSE:GE) Target Price at $170.00

General Electric (NYSE:GE) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $172.29.

A number of analysts have recently weighed in on the company. Vertical Research initiated coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Wells Fargo & Company lifted their price objective on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Jefferies Financial Group raised their target price on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd.

General Electric Price Performance

General Electric stock opened at $164.11 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market capitalization of $179.64 billion, a price-to-earnings ratio of 53.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company’s 50 day simple moving average is $161.93 and its 200-day simple moving average is $137.89. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share 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 company 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 company posted $0.27 EPS. General Electric’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Blueprint LLC raised its stake in shares of General Electric by 10.5% during the 3rd quarter. Strategic Blueprint LLC now owns 2,465 shares of the conglomerate’s stock worth $273,000 after buying an additional 234 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in General Electric in the third quarter valued at $347,000. Country Club Bank GFN purchased a new stake in shares of General Electric during the 3rd quarter worth $205,000. Valeo Financial Advisors LLC grew its stake in shares of General Electric by 1.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 17,920 shares of the conglomerate’s stock worth $1,981,000 after purchasing an additional 318 shares during the period. Finally, Wendell David Associates Inc. acquired a new stake in shares of General Electric in the third quarter valued at about $246,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.