General Electric (NYSE:GE) Given New $200.00 Price Target at Royal Bank of Canada

General Electric (NYSE:GE - Free Report) had its price target reduced by Royal Bank of Canada from $210.00 to $200.00 in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the conglomerate's stock.

Other equities research analysts also recently issued research reports about the company. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. StockNews.com downgraded shares of General Electric from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of "Moderate Buy" and an average target price of $200.93.

General Electric Price Performance

Shares of NYSE:GE traded up $5.12 on Wednesday, hitting $181.78. The company's stock had a trading volume of 9,785,548 shares, compared to its average volume of 6,388,434. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $198.98 billion, a PE ratio of 59.60, a PEG ratio of 1.86 and a beta of 1.18. The company has a 50-day simple moving average of $179.51 and a 200 day simple moving average of $168.15.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric's dividend payout ratio is presently 36.72%.

Institutional Trading of General Electric

Several large investors have recently added to or reduced their stakes in the stock. Burford Brothers Inc. grew its holdings in shares of General Electric by 1.6% during the 3rd quarter. Burford Brothers Inc. now owns 11,038 shares of the conglomerate's stock worth $2,082,000 after acquiring an additional 175 shares during the period. Cromwell Holdings LLC boosted its position in shares of General Electric by 6.3% during the third quarter. Cromwell Holdings LLC now owns 3,241 shares of the conglomerate's stock valued at $612,000 after purchasing an additional 193 shares in the last quarter. O Brien Wealth Partners LLC purchased a new stake in General Electric in the third quarter worth $27,000. Trueblood Wealth Management LLC bought a new position in General Electric in the third quarter worth $220,000. Finally, Massachusetts Wealth Management lifted its position in General Electric by 0.9% during the third quarter. Massachusetts Wealth Management now owns 14,732 shares of the conglomerate's stock valued at $2,778,000 after buying an additional 138 shares during the period. 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.