General Electric (NYSE:GE) Price Target Raised to $225.00

General Electric (NYSE:GE) had its target price boosted by Wells Fargo & Company from $210.00 to $225.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

A number of other analysts have also issued reports on the company. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.93.

General Electric Stock Performance

NYSE:GE opened at $165.98 on Wednesday. The company has a market capitalization of $179.64 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.66 and a beta of 1.17. The business has a fifty day simple moving average of $180.30 and a two-hundred day simple moving average of $172.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1 year low of $95.92 and a 1 year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. On average, analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. General Electric’s payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter valued at approximately $2,613,332,000. Jennison Associates LLC raised its holdings in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the second quarter valued at approximately $580,200,000. International Assets Investment Management LLC boosted its holdings in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares during the period. 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.