General Electric's (GE) Outperform Rating Reaffirmed at Royal Bank of Canada

General Electric (NYSE:GE - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $220.00 price target on the conglomerate's stock. Royal Bank of Canada's target price would suggest a potential upside of 12.90% from the company's previous close.

Several other research analysts have also commented on GE. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. UBS Group raised their target price on General Electric from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday. Wells Fargo & Company upped their price target on General Electric from $203.00 to $212.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, Northcoast Research upgraded shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price objective for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of "Moderate Buy" and an average target price of $213.40.

General Electric Stock Up 3.0 %

Shares of NYSE:GE traded up $5.69 during trading on Wednesday, reaching $194.87. 3,890,892 shares of the company traded hands, compared to its average volume of 5,466,396. The firm has a fifty day simple moving average of $195.11 and a 200 day simple moving average of $186.48. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 1-year low of $150.20 and a 1-year high of $214.21. The firm has a market cap of $209.15 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the period. FMR LLC lifted its holdings in General Electric by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC boosted its position in General Electric by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock valued at $3,846,587,000 after buying an additional 529,457 shares in the last quarter. Norges Bank bought a new stake in General Electric during the fourth quarter worth about $2,375,439,000. Finally, Northern Trust Corp grew its stake in General Electric by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the conglomerate's stock worth $1,675,717,000 after buying an additional 553,104 shares during 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.

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