General Electric (NYSE:GE) Trading 2.4% Higher Following Analyst Upgrade

Shares of General Electric (NYSE:GE - Get Free Report) rose 2.4% during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $177.00 to $200.00. Wells Fargo & Company currently has an overweight rating on the stock. General Electric traded as high as $178.52 and last traded at $177.75. Approximately 2,350,366 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 5,883,295 shares. The stock had previously closed at $173.55.

Several other analysts have also commented on the stock. Jefferies Financial Group increased their price target on shares of General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Barclays raised their target price on shares of General Electric from $153.00 to $181.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Citigroup raised their target price on shares of General Electric from $135.00 to $148.00 and gave the stock a "buy" rating in a research report on Monday, December 11th. JPMorgan Chase & Co. upgraded shares of General Electric from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $166.00 to $180.00 in a research report on Friday, March 8th. Finally, StockNews.com assumed coverage on shares of General Electric in a research report on Wednesday, March 20th. They set a "hold" rating on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.54.

Insiders Place Their Bets

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

Institutional Investors Weigh In On General Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Halpern Financial Inc. grew its holdings in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate's stock worth $25,000 after acquiring an additional 184 shares in the last quarter. Aspect Partners LLC acquired a new position in General Electric during the 4th quarter worth $25,000. Criterion Capital Advisors LLC acquired a new position in General Electric during the 4th quarter worth $27,000. Dagco Inc. acquired a new position in General Electric during the 4th quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in General Electric during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Stock Performance

The company has a market capitalization of $196.92 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The company's fifty day simple moving average is $150.52 and its two-hundred day simple moving average is $129.01.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. Equities research analysts predict that General Electric will post 4.57 earnings per share for the current fiscal year.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.