General Electric (NYSE:GE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

General Electric (NYSE:GE) had its price objective lifted by Wells Fargo & Company from $203.00 to $212.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Northcoast Research upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday, April 9th. Finally, Redburn Atlantic assumed coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

General Electric Stock Performance

GE stock opened at $181.88 on Tuesday. The business has a 50 day moving average of $196.66 and a 200-day moving average of $186.53. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21. The firm has a market cap of $195.21 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. General Electric’s payout ratio is 24.04%.

Institutional Trading of General Electric

Large investors have recently added to or reduced their stakes in the stock. Johnson & White Wealth Management LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $733,000. Chung Wu Investment Group LLC purchased a new stake in General Electric in the fourth quarter worth $795,000. National Bank of Canada FI raised its holdings in General Electric by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the conglomerate’s stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. World Investment Advisors LLC lifted its position in General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares during the period. Finally, National Pension Service boosted its holdings in shares of General Electric by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the conglomerate’s stock valued at $376,051,000 after buying an additional 37,884 shares in the last quarter. 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.