General Electric (NYSE:GE) Given New $108.00 Price Target at Royal Bank of Canada

General Electric (NYSE:GE) had its target price reduced by Royal Bank of Canada from $125.00 to $108.00 in a research report released on Wednesday, The Fly reports. They currently have an outperform rating on the conglomerate’s stock.

A number of other equities research analysts have also recently issued reports on the company. Wolfe Research raised their target price on General Electric from $132.00 to $136.00 and gave the company an outperform rating in a research note on Wednesday, November 10th. Wells Fargo & Company raised their target price on General Electric from $110.00 to $120.00 and gave the company an equal weight rating in a research note on Wednesday, November 10th. Morgan Stanley assumed coverage on General Electric in a research note on Tuesday, November 23rd. They issued an overweight rating and a $125.00 target price on the stock. Barclays cut their target price on General Electric from $128.00 to $122.00 and set an overweight rating on the stock in a research note on Monday, December 6th. Finally, Sanford C. Bernstein began coverage on General Electric in a research note on Monday, January 10th. They issued an outperform rating and a $120.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $121.88.

General Electric stock opened at $89.32 on Wednesday. The company has a market cap of $98.09 billion, a PE ratio of -171.77, a P/E/G ratio of 4.76 and a beta of 1.02. The company has a fifty day moving average price of $97.01 and a two-hundred day moving average price of $101.49. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.80 and a quick ratio of 1.50. General Electric has a 12 month low of $85.12 and a 12 month high of $116.17.

General Electric (NYSE:GE) last released its quarterly earnings data on Monday, January 24th. The conglomerate reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $20.30 billion during the quarter, compared to the consensus estimate of $21.32 billion. General Electric had a negative net margin of 0.05% and a positive return on equity of 5.88%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities research analysts anticipate that General Electric will post 2.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 25th. Shareholders of record on Tuesday, December 21st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, December 20th. General Electric’s dividend payout ratio (DPR) is presently -61.54%.

In other General Electric news, Director Leslie Seidman purchased 1,000 shares of the company’s stock in a transaction on Monday, November 22nd. The shares were purchased at an average cost of $100.59 per share, for a total transaction of $100,590.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders acquired 2,051 shares of company stock worth $210,673. 0.71% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bell Investment Advisors Inc purchased a new position in General Electric in the 3rd quarter worth about $32,000. Blue Bell Private Wealth Management LLC purchased a new position in General Electric during the 4th quarter valued at about $35,000. Accel Wealth Management grew its stake in General Electric by 63.2% during the 4th quarter. Accel Wealth Management now owns 475 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 184 shares in the last quarter. Mascoma Wealth Management LLC purchased a new position in General Electric during the 3rd quarter valued at about $54,000. Finally, Kessler Investment Group LLC grew its stake in General Electric by 416.8% during the 3rd quarter. Kessler Investment Group LLC now owns 646 shares of the conglomerate’s stock valued at $67,000 after acquiring an additional 521 shares in the last quarter. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Company Profile

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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