General Electric (NYSE:GE) Price Target Raised to $192.00 at Wells Fargo & Company

General Electric (NYSE:GE) had its price objective raised by Wells Fargo & Company from $165.00 to $192.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

Several other equities research analysts have also commented on GE. Royal Bank of Canada upped their price target on General Electric from $165.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. Citigroup increased their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Barclays cut their price target on shares of General Electric from $181.00 to $175.00 and set an overweight rating on the stock in a report on Wednesday, April 3rd. Oppenheimer reiterated a market perform rating on shares of General Electric in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group increased their price objective on shares of General Electric from $180.00 to $185.00 and gave the stock a buy rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $172.29.

General Electric Stock Performance

Shares of GE stock opened at $164.49 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market capitalization of $180.05 billion, a price-to-earnings ratio of 53.93, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. General Electric has a one year low of $77.93 and a one year high of $166.07. The company has a 50 day moving average price of $161.02 and a 200 day moving average price of $136.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. Sell-side analysts anticipate that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric’s payout ratio is presently 36.72%.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the 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 transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Electric

Several large investors have recently added to or reduced their stakes in GE. Halpern Financial Inc. lifted its holdings in General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $27,000. CGC Financial Services LLC lifted its holdings in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC lifted its holdings in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric in the 4th quarter worth approximately $32,000. 74.77% of the stock is currently owned by 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.