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

General Electric (NYSE:GE - Free Report) had its price objective increased by Wells Fargo & Company from $165.00 to $192.00 in a research report report published on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the conglomerate's stock.

Several other research firms also recently commented on GE. StockNews.com initiated coverage on shares of General Electric in a research note on Monday. They set a hold rating on the stock. The Goldman Sachs Group lifted their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. TD Cowen raised shares of General Electric from a hold rating to a buy rating and lifted their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an overweight rating on the stock in a research note on Wednesday, April 3rd. Finally, Citigroup lifted their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a buy rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of Moderate Buy and a consensus price target of $172.29.

General Electric Price Performance

GE traded up $2.14 on Monday, reaching $164.49. The company had a trading volume of 5,382,593 shares, compared to its average volume of 8,079,420. The business has a 50 day simple moving average of $160.72 and a 200 day simple moving average of $136.43. The company has a market cap of $180.05 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 52-week low of $77.93 and a 52-week high of $166.07.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.68%. This is a boost from General Electric's previous quarterly dividend of $0.08. General Electric's payout ratio is 36.72%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were 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 owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of General Electric

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate's stock worth $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Northern Trust Corp raised its position in shares of General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate's stock worth $1,170,551,000 after purchasing an additional 410,061 shares during the last quarter. Norges Bank purchased a new position in shares of General Electric in the 4th quarter worth about $1,193,159,000. Morgan Stanley raised its position in shares of General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate's stock worth $990,032,000 after purchasing an additional 434,736 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of General Electric by 6.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate's stock worth $849,385,000 after purchasing an additional 426,794 shares during the last quarter. 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.