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

General Electric (NYSE:GE) had its price objective boosted by stock analysts at Wells Fargo & Company from $205.00 to $210.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.90% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada boosted their price objective on General Electric from $190.00 to $210.00 in a research note on Tuesday. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

Shares of GE stock opened at $179.64 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market cap of $196.64 billion, a price-to-earnings ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18. The stock’s fifty day simple moving average is $179.51 and its 200 day simple moving average is $168.15. General Electric has a one year low of $84.58 and a one year high of $194.80.

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

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Newport Trust Company LLC bought a new stake in shares of General Electric in the second quarter worth about $2,613,332,000. Capital World Investors increased its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Capital International Investors increased its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric in the second quarter worth about $580,200,000. 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.