General Electric (NYSE:GE) Price Target Increased to $210.00 by Analysts at Wells Fargo & Company

General Electric (NYSE:GE) had its price target raised by Wells Fargo & Company from $205.00 to $210.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

A number of other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group lifted their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Up 2.9 %

Shares of GE stock opened at $181.78 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $198.98 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The company has a 50-day simple moving average of $179.51 and a two-hundred day simple moving average of $168.15.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during 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%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. Research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Institutional Investors Weigh In On General Electric

Several institutional investors have recently added to or reduced their stakes in GE. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of General Electric by 50.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,254 shares of the conglomerate’s stock valued at $23,776,000 after acquiring an additional 43,145 shares during the last quarter. BKM Wealth Management LLC purchased a new position in General Electric during the 3rd quarter valued at about $518,000. Smith & Howard Wealth Management LLC bought a new position in General Electric during the 3rd quarter valued at approximately $208,000. CWC Advisors LLC. purchased a new stake in General Electric in the 3rd quarter worth approximately $1,295,000. Finally, Highland Capital Management LLC grew its position in shares of General Electric by 88.7% in the 3rd quarter. Highland Capital Management LLC now owns 18,443 shares of the conglomerate’s stock worth $3,478,000 after buying an additional 8,667 shares during the last quarter. Hedge funds and other 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.