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

General Electric (NYSE:GE) had its price objective upped by Wells Fargo & Company from $165.00 to $192.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

Several other analysts have also recently issued reports on the company. Barclays cut their target price on General Electric from $181.00 to $175.00 and set an overweight rating on the stock in a research note on Wednesday, April 3rd. TheStreet raised General Electric from a c+ rating to a b+ rating in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. dropped their price target on General Electric from $180.00 to $148.00 and set an overweight rating for the company in a research note on Tuesday, April 2nd. Bank of America lifted their price target on shares of General Electric from $165.00 to $180.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, TD Cowen upgraded shares of General Electric from a hold rating to a buy rating and upped their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $172.29.

General Electric Stock Down 1.3 %

Shares of NYSE:GE opened at $159.70 on Monday. The stock has a market capitalization of $174.81 billion, a P/E ratio of 52.36, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The stock’s 50-day moving average price is $161.50 and its 200-day moving average price is $137.33. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating 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 firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Avestar Capital LLC bought a new position in General Electric in the 3rd quarter worth approximately $267,000. Commonwealth Equity Services LLC grew its position in General Electric by 2.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 351,098 shares of the conglomerate’s stock valued at $38,814,000 after acquiring an additional 9,134 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in General Electric by 9.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 139,128 shares of the conglomerate’s stock worth $15,381,000 after buying an additional 12,020 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of General Electric by 977.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 46,609 shares of the conglomerate’s stock worth $5,153,000 after acquiring an additional 42,282 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in General Electric by 26.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 583,995 shares of the conglomerate’s stock worth $64,561,000 after purchasing an additional 123,743 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.