General Electric (NYSE:GE) Given New $203.00 Price Target at Wells Fargo & Company

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

Several other brokerages also recently issued reports on GE. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, UBS Group raised their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.27.

General Electric Stock Up 10.7 %

Shares of General Electric stock opened at $187.44 on Tuesday. The stock has a 50-day moving average price of $199.23 and a 200 day moving average price of $186.70. The company 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. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 1 year low of $146.78 and a 1 year high of $214.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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, analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC raised its stake in General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after buying an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its position in shares of General Electric by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 50 shares during the last quarter. Ballast Advisors LLC grew its position in shares of General Electric by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC grew its position in shares of General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after purchasing an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. grew its position in shares of General Electric by 1.2% in the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the conglomerate’s stock valued at $789,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds 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.