UBS Group Issues Positive Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its target price lifted by UBS Group from $215.00 to $235.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

A number of other analysts have also recently commented on GE. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.80.

General Electric Price Performance

GE opened at $196.81 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The stock has a fifty day simple moving average of $174.93 and a two-hundred day simple moving average of $174.77. General Electric has a 12-month low of $103.75 and a 12-month high of $207.65.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. Research analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. General Electric’s payout ratio is 19.68%.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tsfg LLC raised its stake in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares during the period. Red Door Wealth Management LLC increased its holdings in General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 56 shares in the last quarter. Saxon Interests Inc. raised its stake in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 57 shares during the period. Strategic Advisors LLC lifted its holdings in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.