Wells Fargo & Company Forecasts Strong Price Appreciation for General Electric (NYSE:GE) Stock

General Electric (NYSE:GE) had its target price lifted by Wells Fargo & Company from $210.00 to $225.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 36.52% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $201.93.

General Electric Price Performance

GE opened at $164.81 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $178.37 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.69 and a beta of 1.17. The stock’s 50-day moving average price is $181.11 and its 200 day moving average price is $172.48. General Electric has a 12-month low of $95.92 and a 12-month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. As a group, sell-side analysts expect that General Electric will post 4.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on 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 directly owns 148,857 shares in the company, valued at approximately $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 corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GE. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric during the third quarter worth $28,000. Institutional investors and hedge funds 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.