General Electric (NYSE:GE) Given New $192.00 Price Target at Wells Fargo & Company

General Electric (NYSE:GE) had its price target hoisted by Wells Fargo & Company from $165.00 to $192.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

Other research analysts have also recently issued research reports about the stock. Argus boosted their price target on shares of General Electric from $170.00 to $180.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Bank of America lifted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Oppenheimer reissued a market perform rating on shares of General Electric in a research note on Tuesday, March 5th. Citigroup lifted their price target on shares of General Electric from $120.43 to $186.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $210.00 to $190.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $172.29.

General Electric Stock Up 1.3 %

GE opened at $164.49 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a twelve month low of $77.93 and a twelve month high of $166.07. The company has a market cap of $180.05 billion, a PE ratio of 53.93, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. The company has a 50-day moving average price of $161.02 and a 200 day moving average price of $136.80.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 EPS. Sell-side analysts expect that General Electric will post 3.93 earnings per share for the current fiscal year.

General Electric Increases Dividend

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

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Electric news, 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 value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The transaction 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 company’s stock in a transaction on Wednesday, February 14th. The stock was 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 directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Caprock Group LLC raised its holdings in General Electric by 0.4% in the first quarter. Caprock Group LLC now owns 54,038 shares of the conglomerate’s stock valued at $9,485,000 after acquiring an additional 191 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of General Electric by 11.4% in the 1st quarter. Perigon Wealth Management LLC now owns 12,568 shares of the conglomerate’s stock valued at $2,206,000 after purchasing an additional 1,283 shares during the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of General Electric by 9.3% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 1,582 shares of the conglomerate’s stock valued at $278,000 after purchasing an additional 134 shares during the last quarter. Renaissance Investment Group LLC purchased a new stake in shares of General Electric during the 1st quarter worth $275,000. Finally, Stock Yards Bank & Trust Co. grew its stake in shares of General Electric by 40.4% during the first quarter. Stock Yards Bank & Trust Co. now owns 12,567 shares of the conglomerate’s stock worth $2,206,000 after purchasing an additional 3,613 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.