Wells Fargo & Company Increases General Electric (NYSE:GE) Price Target to $210.00

General Electric (NYSE:GE) had its price target raised by equities research analysts at Wells Fargo & Company from $205.00 to $210.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 16.90% from the company’s current price.

Several other brokerages have also weighed in on GE. Melius Research upped their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of NYSE:GE opened at $179.64 on Wednesday. The company’s fifty day moving average is $179.51 and its two-hundred day moving average is $168.15. The company has a market cap of $196.64 billion, a P/E ratio of 58.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

Institutional Trading of General Electric

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orrstown Financial Services Inc. increased its position in shares of General Electric by 556.5% during the third quarter. Orrstown Financial Services Inc. now owns 10,143 shares of the conglomerate’s stock valued at $1,913,000 after purchasing an additional 8,598 shares during the period. Nisa Investment Advisors LLC boosted its stake in General Electric by 13.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 259,560 shares of the conglomerate’s stock valued at $49,012,000 after buying an additional 30,383 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in General Electric by 3.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 4,969 shares of the conglomerate’s stock valued at $937,000 after buying an additional 146 shares in the last quarter. Concord Wealth Partners boosted its stake in General Electric by 35.2% in the 3rd quarter. Concord Wealth Partners now owns 4,573 shares of the conglomerate’s stock valued at $862,000 after buying an additional 1,191 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in General Electric in the 3rd quarter valued at $805,000. 74.77% of the stock is currently owned by 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.