General Electric (NYSE:GE) Price Target Raised to $192.00

General Electric (NYSE:GE) had its price objective increased by analysts at Wells Fargo & Company from $165.00 to $192.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s target price points to a potential upside of 16.58% from the company’s previous close.

GE has been the subject of a number of other research reports. Bank of America increased their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Vertical Research assumed coverage on General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price target on the stock. StockNews.com assumed coverage on General Electric in a research note on Monday. They set a “hold” rating for the company. Argus raised their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $172.29.

General Electric Trading Up 1.4 %

Shares of General Electric stock traded up $2.34 during trading on Monday, reaching $164.69. 3,597,532 shares of the stock were exchanged, compared to its average volume of 8,056,256. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a market cap of $180.27 billion, a price-to-earnings ratio of 53.96, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. General Electric has a 1 year low of $77.93 and a 1 year high of $166.07. The stock’s fifty day moving average is $160.72 and its 200 day moving average is $136.43.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the business posted $0.27 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that General Electric will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now 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 available through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

Several hedge funds have recently modified their holdings of GE. Walker Asset Management LLC grew its stake in General Electric by 1.7% during the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 70 shares during the last quarter. BKM Wealth Management LLC boosted its holdings in General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after buying an additional 72 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in General Electric by 1.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after buying an additional 74 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of General Electric by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after acquiring an additional 75 shares during the period. Finally, Schnieders Capital Management LLC increased its stake in shares of General Electric by 1.1% in the 1st quarter. Schnieders Capital Management LLC now owns 6,817 shares of the conglomerate’s stock valued at $1,197,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors 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.