Wells Fargo & Company Raises General Electric (NYSE:GE) Price Target to $210.00

General Electric (NYSE:GE) had its target price hoisted by Wells Fargo & Company from $205.00 to $210.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

Several other brokerages have also issued reports on GE. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

NYSE:GE opened at $179.10 on Wednesday. The firm has a market capitalization of $194.20 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The company has a fifty day moving average of $179.90 and a 200-day moving average of $168.48. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s payout ratio is presently 19.68%.

Institutional Trading of General Electric

A number of institutional investors and hedge funds have recently modified their holdings of GE. Mackenzie Financial Corp grew its stake in General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the period. Marietta Investment Partners LLC purchased a new position in shares of General Electric in the 2nd quarter worth about $1,569,000. GAMMA Investing LLC grew its position in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the period. Senator Investment Group LP purchased a new stake in General Electric during the second quarter worth about $34,973,000. Finally, Blair William & Co. IL raised its position in General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after acquiring an additional 7,670 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.