General Electric (NYSE:GE) Earns Buy Rating from Analysts at Redburn Atlantic

Redburn Atlantic assumed coverage on shares of General Electric (NYSE:GE) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $250.00 target price on the conglomerate’s stock.

Several other research analysts also recently issued reports on the company. Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Bank of America upped their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Stock Down 0.7 %

Shares of NYSE GE opened at $208.93 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market cap of $224.24 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.61 and a beta of 1.22. General Electric has a 12 month low of $118.13 and a 12 month high of $212.19. The stock has a 50-day moving average price of $185.89 and a two-hundred day moving average price of $180.43.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

Hedge Funds Weigh In On General Electric

A number of institutional investors and hedge funds have recently modified their holdings of GE. Toth Financial Advisory Corp bought a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter worth $25,000. New Age Alpha Advisors LLC lifted its holdings in shares of General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter worth $27,000. Finally, Hager Investment Management Services LLC bought a new position in shares of General Electric in the 4th quarter worth $27,000. 74.77% of the stock is currently owned by institutional investors.

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.