Brokerages Set General Electric (NYSE:GE) Price Target at $196.86

General Electric (NYSE:GE) is receiving an average market recommendation categorized as a "]Moderate Buy" from fifteen market analysis firms. As reported, one analyst has assigned a hold rating, while fourteen others recommend a buy for the stock.

The consensus twelve-month price target among these analysts stands at $198.53, reflecting positive sentiments regarding the company's future performance.

Recently, various research firms have provided their insights regarding General Electric's stock. For instance, Citigroup elevated its target price from $198.00 to $216.00, maintaining a "buy" recommendation on October 10th. The Royal Bank of Canada also raised its price goal for the stock from $190.00 to $210.00. Additionally, Jefferies Financial Group adjusted its target price upward from $185.00 to $190.00, accompanying it with a "buy" recommendation on June 28th.

Furthermore, Deutsche Bank increased its price target on General Electric from $212.00 to $235.00, also designating the stock as a buy on October 3rd. Contrarily, StockNews.com downgraded General Electric from a buy rating to a hold rating back on July 29th.

Institutional Activity in General Electric

Several institutional investors have been active in trading General Electric shares. For example, Mackenzie Financial Corp increased its shares by 10.5% in the second quarter, acquiring additional shares to reach a total of 603,988 shares valued at approximately $96 million. Marietta Investment Partners LLC also entered the market with a new stake valued at around $1.57 million during the same period.

Another notable change came from GAMMA Investing LLC, which boosted its stake by 25.4% during the second quarter. Now holding 16,999 shares, it is valued at around $2.7 million after purchasing extra shares. Senator Investment Group LP also bought a new stake worth approximately $34.97 million in the second quarter. Blair William & Co. IL is another institution that grew its position by 4.4%, owning 181,971 shares valued at nearly $28.93 million after purchasing additional shares.

Overall, institutional investors and hedge funds currently own approximately 74.77% of General Electric’s shares.

Current Stock Performance

As of the last trading session, General Electric’s stock opened at $176.59 and has experienced a reduction of 9.1%. The company's financial metrics include a debt-to-equity ratio of 0.95, a current ratio of 1.14, and a quick ratio of 0.85. The stock's market capitalization is recorded at $193.30 billion, with a P/E ratio of 57.90 and a P/E/G ratio of 1.86. Notably, General Electric shares have fluctuated from a fifty-two week low of $84.58 to a high of $194.80. The stock is currently averaging $179.24 over the last 50 days and $168.05 over the last 200 days.

General Electric's last quarterly earnings report was released on July 23rd, where it reported earnings per share of $1.20, surpassing the consensus estimate of $0.99 by $0.21. The company exhibited a return on equity of 16.07% and a net margin of 7.66%, with revenues reaching $9.09 billion, exceeding analysts’ expectations.

Dividend Announcement by General Electric

Additionally, General Electric recently announced a quarterly dividend set to be paid on October 25th. Shareholders recorded on September 26th will receive a dividend of $0.28, translating to an annual dividend yield of 0.63%. General Electric's payout ratio presently stands at 36.72%.

Overview of General Electric Company

General Electric Company, also known as GE Aerospace, specializes in designing and manufacturing commercial and defense aircraft engines, alongside integrated engine components and mechanical aircraft systems. The company serves various markets across the globe, including regions in the Americas, Europe, China, Asia, the Middle East, and Africa.

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