General Electric (NYSE:GE) Given Consensus Rating of “Moderate Buy” by Brokerages

General Electric (NYSE:GE) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $190.38.

Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada lifted their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th.

Hedge Funds Weigh In On General Electric

Several institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC boosted its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric during the fourth quarter valued at $32,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter worth $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric in the first quarter valued at $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $161.27 on Friday. The stock has a market cap of $176.53 billion, a price-to-earnings ratio of 52.88, a P/E/G ratio of 1.73 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The company’s fifty day moving average is $165.78 and its 200 day moving average is $163.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

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.