General Electric (NYSE:GE) Price Target Cut to $228.00 by Analysts at Deutsche Bank Aktiengesellschaft

General Electric (NYSE:GE) had its price target reduced by Deutsche Bank Aktiengesellschaft from $235.00 to $228.00 in a report published on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the conglomerate’s stock.

A number of other research firms have also recently commented on GE. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Trading Up 1.1 %

General Electric stock opened at $168.59 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $182.46 billion, a PE ratio of 29.63, a P/E/G ratio of 1.66 and a beta of 1.17. The stock’s 50 day simple moving average is $174.59 and its two-hundred day simple moving average is $173.00. General Electric has a 12 month low of $98.92 and a 12 month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business earned $0.82 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several institutional investors have recently bought and sold shares of the company. Tsfg LLC increased its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Strategic Advisors LLC increased its position in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after purchasing an additional 60 shares in the last quarter. Meridian Management Co. lifted its position in shares of General Electric by 1.2% during the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after purchasing an additional 61 shares during the last quarter. Finally, Mayflower Financial Advisors LLC grew its stake in shares of General Electric by 3.0% during the third quarter. Mayflower Financial Advisors LLC now owns 2,115 shares of the conglomerate’s stock worth $399,000 after purchasing an additional 62 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.