General Electric (NYSE:GE) Upgraded to Buy at Northcoast Research

Northcoast Research upgraded shares of General Electric (NYSE:GE) from a neutral rating to a buy rating in a research note released on Wednesday, Marketbeat reports. Northcoast Research currently has $205.00 price target on the conglomerate’s stock.

Several other brokerages also recently weighed in on GE. Wells Fargo & Company reduced their price objective on shares of General Electric from $250.00 to $203.00 and set an “overweight” rating for the company in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $212.73.

General Electric Stock Down 4.4 %

General Electric stock traded down $8.33 during trading on Wednesday, reaching $178.95. The stock had a trading volume of 3,960,887 shares, compared to its average volume of 5,471,500. General Electric has a 52-week low of $146.78 and a 52-week high of $214.21. The business has a 50 day moving average price of $199.23 and a 200 day moving average price of $186.70. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $192.06 billion, a PE ratio of 29.86, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.80%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

Institutional Investors Weigh In On General Electric

A number of large investors have recently bought and sold shares of the stock. TrueWealth Advisors LLC boosted its stake in shares of General Electric by 6.4% during the first quarter. TrueWealth Advisors LLC now owns 3,477 shares of the conglomerate’s stock valued at $696,000 after acquiring an additional 210 shares during the last quarter. Amplius Wealth Advisors LLC acquired a new stake in shares of General Electric during the 1st quarter worth about $231,000. Apella Capital LLC grew its holdings in shares of General Electric by 34.0% during the first quarter. Apella Capital LLC now owns 4,290 shares of the conglomerate’s stock worth $803,000 after buying an additional 1,088 shares in the last quarter. Triangle Securities Wealth Management raised its position in shares of General Electric by 3.6% in the first quarter. Triangle Securities Wealth Management now owns 2,702 shares of the conglomerate’s stock valued at $541,000 after buying an additional 93 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of General Electric by 16.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,204 shares of the conglomerate’s stock valued at $2,643,000 after buying an additional 1,912 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.