General Electric (NYSE:GE) Price Target Raised to $230.00

General Electric (NYSE:GE) had its target price lifted by equities researchers at UBS Group from $223.00 to $230.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. UBS Group’s target price suggests a potential upside of 24.85% from the company’s current price.

GE has been the subject of a number of other research reports. Wells Fargo & Company raised their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein raised their price target 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. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.27.

General Electric Stock Up 4.3 %

NYSE:GE traded up $7.56 during midday trading on Wednesday, reaching $184.22. 3,929,572 shares of the stock traded hands, compared to its average volume of 6,357,712. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The business has a 50-day moving average of $179.24 and a two-hundred day moving average of $168.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market capitalization of $201.65 billion, a PE ratio of 60.40, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

Institutional Trading of General Electric

Several institutional investors have recently modified their holdings of the stock. Studio Investment Management LLC raised its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in General Electric during the 3rd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in General Electric during the 2nd quarter worth $31,000. Financial Connections Group Inc. purchased a new position in General Electric during the 2nd quarter worth $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.