General Electric (NYSE:GE) Price Target Cut to $200.00 by Analysts at Royal Bank of Canada

General Electric (NYSE:GE) had its price target decreased by Royal Bank of Canada from $210.00 to $200.00 in a research report report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the conglomerate’s stock.

GE has been the topic of several other research reports. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Up 2.9 %

Shares of General Electric stock opened at $181.78 on Wednesday. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market cap of $198.98 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The firm has a fifty day moving average price of $179.51 and a 200 day moving average price of $168.15.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. Equities research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Institutional Investors Weigh In On General Electric

Institutional investors and hedge funds have recently modified their holdings of the stock. Newport Trust Company LLC purchased a new position in shares of General Electric in the second quarter valued at $2,613,332,000. Capital World Investors raised its holdings in 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 acquiring an additional 12,312,648 shares in the last quarter. Capital International Investors raised its stake in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric during the second quarter valued at approximately $580,200,000. Hedge funds and other institutional investors 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.