Deutsche Bank Aktiengesellschaft Cuts General Electric (NYSE:GE) Price Target to $228.00

General Electric (NYSE:GE) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $235.00 to $228.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

Several other equities analysts also recently issued reports on the company. UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company upped their price target on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Stock Performance

Shares of GE stock opened at $171.96 on Thursday. 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 business’s fifty day simple moving average is $174.45 and its 200-day simple moving average is $173.06. General Electric has a 12-month low of $99.34 and a 12-month high of $194.80. The company has a market cap of $186.11 billion, a PE ratio of 30.22, a PEG ratio of 1.63 and a beta of 1.17.

General Electric (NYSE:GE) last released 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm earned $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at General Electric

In other General Electric 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Studio Investment Management LLC boosted its position in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the 3rd quarter worth $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.