General Electric (NYSE:GE) Given New $200.00 Price Target at Wells Fargo & Company

General Electric (NYSE:GE) had its target price boosted by Wells Fargo & Company from $177.00 to $200.00 in a report released on Wednesday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the conglomerate’s stock.

Several other equities analysts have also commented on the stock. Barclays increased their target price on shares of General Electric from $153.00 to $181.00 and gave the company an overweight rating in a report on Thursday, February 29th. Jefferies Financial Group raised their price target on shares of General Electric from $180.00 to $195.00 in a report on Monday, March 11th. Oppenheimer reissued a market perform rating on shares of General Electric in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised shares of General Electric from a neutral rating to an overweight rating and raised their price target for the stock from $166.00 to $180.00 in a report on Friday, March 8th. Finally, Citigroup raised their price target on shares of General Electric from $135.00 to $148.00 and gave the stock a buy rating in a report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $150.54.

General Electric Stock Performance

General Electric stock opened at $180.12 on Wednesday. The firm’s fifty day moving average price is $150.52 and its 200-day moving average price is $129.01. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The stock has a market cap of $196.92 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. General Electric has a fifty-two week low of $92.56 and a fifty-two week high of $180.36.

General Electric (NYSE:GE) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter last year, the firm earned $1.24 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the period. State Street Corp grew its stake in shares of General Electric by 3.5% in the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock worth $5,515,327,000 after acquiring an additional 1,717,793 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after acquiring an additional 13,427,079 shares during the period. Northern Trust Corp grew its stake in shares of General Electric by 4.0% in the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after acquiring an additional 410,061 shares during the period. Finally, Norges Bank bought a new stake in shares of General Electric in the fourth quarter worth approximately $1,193,159,000. 74.77% of the stock is currently owned by institutional investors.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.