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

General Electric (NYSE:GE) had its target price boosted by research analysts at Wells Fargo & Company from $225.00 to $250.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 26.96% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $205.47.

General Electric Price Performance

Shares of GE stock traded down $3.88 during trading hours on Friday, reaching $196.92. The stock had a trading volume of 1,658,075 shares, compared to its average volume of 6,080,958. The stock’s fifty day simple moving average is $174.49 and its 200 day simple moving average is $174.59. The firm has a market capitalization of $213.12 billion, a PE ratio of 34.70, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a 12 month low of $103.75 and a 12 month high of $207.65. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts predict that General Electric will post 4.23 EPS for the current year.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the company. SeaBridge Investment Advisors LLC grew its holdings in General Electric by 52.9% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 2,294 shares of the conglomerate’s stock valued at $383,000 after purchasing an additional 794 shares during the last quarter. Western Financial Corp CA grew its stake in shares of General Electric by 6.8% during the fourth quarter. Western Financial Corp CA now owns 15,515 shares of the conglomerate’s stock valued at $2,588,000 after buying an additional 988 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of General Electric by 36.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,368 shares of the conglomerate’s stock worth $897,000 after buying an additional 1,435 shares during the period. Concord Wealth Partners lifted its stake in shares of General Electric by 114.8% during the 4th quarter. Concord Wealth Partners now owns 9,824 shares of the conglomerate’s stock worth $1,638,000 after acquiring an additional 5,251 shares during the last quarter. Finally, Concord Asset Management LLC VA grew its position in General Electric by 129.1% in the 4th quarter. Concord Asset Management LLC VA now owns 9,337 shares of the conglomerate’s stock valued at $1,557,000 after acquiring an additional 5,262 shares during the last quarter. Hedge funds and other 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.