Wells Fargo & Company Raises General Electric (NYSE:GE) Price Target to $250.00

General Electric (NYSE:GE) had its target price increased by stock analysts at Wells Fargo & Company from $225.00 to $250.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 27.03% from the company’s previous close.

A number of other research analysts have also commented on GE. Citigroup upped their price objective on 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 research note on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $205.80.

General Electric Stock Performance

NYSE GE opened at $196.81 on Friday. The stock has a market cap of $213.00 billion, a PE ratio of 34.59, a P/E/G ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a 50-day moving average of $175.33 and a 200-day moving average of $175.00. General Electric has a 52-week low of $103.75 and a 52-week high of $207.65.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, sell-side analysts anticipate that General Electric will post 4.23 EPS for the current year.

Insider Buying and Selling 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. 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 business’s stock in a transaction on Monday, November 18th. The stock was 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the period. Geode Capital Management LLC grew its holdings in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the last quarter. Legal & General Group Plc increased its position in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the period. Jennison Associates LLC raised its stake in shares of General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after acquiring an additional 106,891 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of General Electric by 6.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock worth $1,236,428,000 after purchasing an additional 413,388 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

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.