Wells Fargo & Company Has Lowered Expectations for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE) had its price objective dropped by equities research analysts at Wells Fargo & Company from $250.00 to $203.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.30% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Citigroup increased their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $213.27.

General Electric Stock Performance

GE stock opened at $187.44 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 firm has a market cap of $201.18 billion, a P/E ratio of 31.29, a P/E/G ratio of 2.59 and a beta of 1.04. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. The stock’s 50 day simple moving average is $199.23 and its 200 day simple moving average is $186.70.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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, equities research analysts predict that General Electric will post 5.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. New Age Alpha Advisors LLC grew its stake in shares of General Electric by 133.3% in the fourth 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. Hager Investment Management Services LLC bought a new position in General Electric during the fourth quarter valued at about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in General Electric during the fourth quarter valued at about $28,000. Putney Financial Group LLC bought a new position in General Electric during the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

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.