General Electric (NYSE:GE) Price Target Raised to $225.00

General Electric (NYSE:GE) had its price target boosted by stock analysts at Wells Fargo & Company from $210.00 to $225.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 32.82% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein upped their target price 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. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.93.

General Electric Stock Down 1.1 %

Shares of GE stock traded down $1.87 on Wednesday, hitting $169.40. The company’s stock had a trading volume of 1,260,061 shares, compared to its average volume of 6,101,229. The stock has a market capitalization of $183.34 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a fifty-two week low of $95.92 and a fifty-two week high of $194.80. The firm’s fifty day moving average price is $181.76 and its 200-day moving average price is $172.48.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction 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 sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GE. Newport Trust Company LLC acquired a new stake in General Electric in the second quarter valued at $2,613,332,000. Jennison Associates LLC lifted its stake in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric during the 2nd quarter worth about $580,200,000. International Assets Investment Management LLC lifted its stake in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its stake in shares of General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after buying an additional 1,605,434 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

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.