Sanford C. Bernstein Boosts General Electric (NYSE:GE) Price Target to $225.00

General Electric (NYSE:GE) had its price target lifted by Sanford C. Bernstein from $201.00 to $225.00 in a report issued on Monday, MarketBeat Ratings reports. They currently have an outperform rating on the conglomerate’s stock.

Several other research analysts have also recently weighed in on GE. Barclays boosted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Stock Up 0.2 %

Shares of NYSE:GE opened at $192.64 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 52-week low of $84.42 and a 52-week high of $194.80. The firm has a market capitalization of $210.87 billion, a P/E ratio of 63.16, a P/E/G ratio of 1.86 and a beta of 1.18. The stock has a 50 day moving average price of $178.01 and a 200-day moving average price of $167.09.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. General Electric’s payout ratio is 36.72%.

Institutional Trading of General Electric

A number of institutional investors have recently made changes to their positions in GE. Mackenzie Financial Corp increased its holdings in General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new position in General Electric during the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC grew its position in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Senator Investment Group LP purchased a new stake in General Electric during the second quarter worth about $34,973,000. Finally, Blair William & Co. IL lifted its position in shares of General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after purchasing an additional 7,670 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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.