General Electric (NYSE:GE) Price Target Raised to $192.00 at Wells Fargo & Company

General Electric (NYSE:GE) had its target price hoisted by analysts at Wells Fargo & Company from $165.00 to $192.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 16.58% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price target on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday. Vertical Research initiated coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Argus lifted their target price on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

General Electric Price Performance

Shares of GE stock traded up $2.34 during trading hours on Monday, hitting $164.69. The company’s stock had a trading volume of 3,597,532 shares, compared to its average volume of 8,056,256. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $160.72 and a 200-day moving average of $136.43. General Electric has a twelve month low of $77.93 and a twelve month high of $166.07. The stock has a market cap of $180.27 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 2.90 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. As a group, equities research analysts anticipate that General Electric will post 3.93 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Marks Group Wealth Management Inc lifted its holdings in General Electric by 2.1% in the first quarter. Marks Group Wealth Management Inc now owns 3,789 shares of the conglomerate’s stock worth $665,000 after acquiring an additional 77 shares during the last quarter. Baxter Bros Inc. lifted its stake in General Electric by 1.3% in the first quarter. Baxter Bros Inc. now owns 44,698 shares of the conglomerate’s stock valued at $7,846,000 after buying an additional 585 shares during the last quarter. Nadler Financial Group Inc. acquired a new position in shares of General Electric during the first quarter valued at $219,000. Trueblood Wealth Management LLC acquired a new position in shares of General Electric during the first quarter valued at $206,000. Finally, BLB&B Advisors LLC grew its position in shares of General Electric by 48.1% during the first quarter. BLB&B Advisors LLC now owns 5,832 shares of the conglomerate’s stock worth $1,024,000 after acquiring an additional 1,895 shares during the last quarter. 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.