General Electric (NYSE:GE) Given New $216.00 Price Target at Citigroup

General Electric (NYSE:GE) had its price objective increased by Citigroup from $198.00 to $216.00 in a report released on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the conglomerate’s stock.

Several other equities research analysts have also recently weighed in on the company. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an outperform rating and a $201.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a buy rating in a research report on Thursday, October 3rd. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an overweight rating in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a buy rating in a report on Friday, June 28th. Finally, UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a buy rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $195.14.

General Electric Trading Up 0.9 %

GE stock traded up $1.73 during midday trading on Thursday, reaching $189.85. 147,385 shares of the company traded hands, compared to its average volume of 6,401,373. The firm has a market capitalization of $205.86 billion, a price-to-earnings ratio of 44.58, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business has a 50 day moving average of $174.99 and a 200-day moving average of $166.53. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.68 earnings per share. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. General Electric’s payout ratio is currently 26.54%.

Institutional Investors Weigh In On General Electric

Hedge funds have recently modified their holdings of the company. Sunflower Bank N.A. lifted its position in shares of General Electric by 5.3% in the third quarter. Sunflower Bank N.A. now owns 5,893 shares of the conglomerate’s stock valued at $1,111,000 after acquiring an additional 298 shares in the last quarter. CVA Family Office LLC grew its position in shares of General Electric by 4.4% in the third quarter. CVA Family Office LLC now owns 1,962 shares of the conglomerate’s stock valued at $370,000 after purchasing an additional 83 shares in the last quarter. Gilman Hill Asset Management LLC purchased a new position in General Electric during the third quarter worth approximately $209,000. Johnson Bixby & Associates LLC boosted its stake in General Electric by 10.4% during the third quarter. Johnson Bixby & Associates LLC now owns 1,420 shares of the conglomerate’s stock worth $268,000 after buying an additional 134 shares during the last quarter. Finally, Crestmont Private Wealth LLC purchased a new stake in General Electric in the 3rd quarter valued at $219,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.