General Electric (NYSE:GE) PT Raised to $209.00

General Electric (NYSE:GE) had its price objective increased by research analysts at UBS Group from $201.00 to $209.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. UBS Group’s price objective suggests a potential upside of 29.44% from the stock’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. The Goldman Sachs Group boosted their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Trading Up 1.6 %

Shares of GE stock opened at $161.47 on Monday. General Electric has a 1-year low of $84.42 and a 1-year high of $170.80. The company has a market cap of $176.75 billion, a price-to-earnings ratio of 52.65, a PEG ratio of 1.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $162.53 and a 200-day simple moving average of $151.85.

General Electric (NYSE:GE) last posted its quarterly earnings data 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. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, equities research analysts expect that General Electric will post 4 EPS for the current fiscal year.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares during the period. Capital International Investors raised its holdings in General Electric by 9.9% during 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 in the last quarter. Capital World Investors lifted its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Norges Bank acquired a new stake in General Electric in the 4th quarter valued at about $1,193,159,000. Finally, Morgan Stanley boosted its holdings in General Electric by 5.1% during the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after buying an additional 434,736 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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.