General Electric (NYSE:GE) Price Target Cut to $203.00 by Analysts at Wells Fargo & Company

General Electric (NYSE:GE) had its target price cut by Wells Fargo & Company from $250.00 to $203.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

Several other research firms also recently issued reports on GE. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Bank of America boosted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.60.

General Electric Trading Up 0.8 %

NYSE GE opened at $169.05 on Tuesday. The stock has a market cap of $181.44 billion, a P/E ratio of 28.22, a PEG ratio of 2.59 and a beta of 1.04. The company’s fifty day simple moving average is $199.92 and its 200-day simple moving average is $186.71. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 52 week low of $146.78 and a 52 week high of $214.21.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.85%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC grew its holdings in General Electric by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of General Electric by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC raised its stake in shares of General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after purchasing an additional 51 shares in the last quarter. Blue Barn Wealth LLC lifted its holdings in General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares during the period. Finally, First Heartland Consultants Inc. grew its position in General Electric by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the conglomerate’s stock valued at $789,000 after buying an additional 54 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

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.