Royal Bank of Canada Increases General Electric (NYSE:GE) Price Target to $210.00

General Electric (NYSE:GE) had its price target upped by equities research analysts at Royal Bank of Canada from $190.00 to $210.00 in a report issued on Tuesday. Royal Bank of Canada’s price objective points to a potential upside of 18.03% from the stock’s current price.

Several other equities analysts have also recently issued reports on GE. UBS Group lifted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday. Wells Fargo & Company lifted their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their target price 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. Finally, Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $198.53.

General Electric Price Performance

General Electric stock traded down $16.31 during trading hours on Tuesday, hitting $177.92. 5,054,012 shares of the company traded hands, compared to its average volume of 6,319,912. The firm’s 50-day simple moving average is $179.06 and its two-hundred day simple moving average is $167.91. The firm has a market cap of $194.75 billion, a P/E ratio of 58.50, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. 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 results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. As a group, analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

Institutional Trading of General Electric

A number of hedge funds have recently modified their holdings of the company. Studio Investment Management LLC boosted its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in General Electric in the 2nd quarter valued at $31,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric during the 1st quarter worth about $34,000. Institutional investors 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.