Wells Fargo & Company Issues Positive Forecast for General Electric (NYSE:GE) Stock Price

General Electric (NYSE:GE - Get Free Report) had its price objective increased by Wells Fargo & Company from $210.00 to $225.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the conglomerate's stock. Wells Fargo & Company's price target would suggest a potential upside of 33.43% from the stock's current price.

Several other research firms have also recently weighed in on GE. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of "Moderate Buy" and a consensus price target of $201.93.

General Electric Price Performance

GE stock traded down $2.64 during trading on Wednesday, hitting $168.63. 7,603,131 shares of the stock traded hands, compared to its average volume of 6,128,725. General Electric has a one year low of $95.92 and a one year high of $194.80. The stock has a market cap of $182.51 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a 50 day simple moving average of $181.46 and a 200 day simple moving average of $172.50. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. Equities analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company's stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company's stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $2,613,332,000. Jennison Associates LLC increased its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in General Electric in the second quarter valued at approximately $580,200,000. International Assets Investment Management LLC lifted its position in shares of General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate's stock valued at $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its stake in shares of General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate's stock worth $256,581,000 after acquiring an additional 1,605,434 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

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.