General Electric (NYSE:GE) Price Target Raised to $200.00 at Wells Fargo & Company

General Electric (NYSE:GE) had its price target hoisted by Wells Fargo & Company from $177.00 to $200.00 in a report released on Wednesday morning, MarketBeat reports. Wells Fargo & Company currently has an overweight rating on the conglomerate’s stock.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com began coverage on shares of General Electric in a research note on Wednesday, March 20th. They issued a hold rating on the stock. Royal Bank of Canada raised their price objective on shares of General Electric from $148.00 to $170.00 and gave the company an outperform rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised shares of General Electric from a neutral rating to an overweight rating and raised their price objective for the company from $166.00 to $180.00 in a research note on Friday, March 8th. Barclays raised their price objective on shares of General Electric from $153.00 to $181.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, TheStreet raised shares of General Electric from a c+ rating to a b+ rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $150.54.

General Electric Price Performance

GE opened at $175.53 on Wednesday. General Electric has a one year low of $93.47 and a one year high of $180.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The company’s 50 day simple moving average is $152.52 and its 200-day simple moving average is $129.69. The stock has a market capitalization of $191.90 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 2.41 and a beta of 1.28.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. General Electric’s revenue was up 15.4% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC increased its stake in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after buying an additional 10,722 shares during the last quarter. D1 Capital Partners L.P. increased its stake in General Electric by 159.8% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,455,000 shares of the conglomerate’s stock valued at $159,832,000 after buying an additional 895,000 shares during the last quarter. Hoey Investments Inc. increased its stake in General Electric by 51,152.3% in the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock valued at $2,493,000 after buying an additional 22,507 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in General Electric in the 3rd quarter valued at $1,846,000. Finally, Cambridge Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter valued at $6,285,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.