Traders Sell General Electric Company (GE) on Strength (GE)
Investors sold shares of General Electric Company (NYSE:GE) on strength during trading on Thursday. $143.94 million flowed into the stock on the tick-up and $230.34 million flowed out of the stock on the tick-down, for a money net flow of $86.40 million out of the stock. Of all stocks tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.15 for the day and closed at $24.26
Several equities analysts have recently commented on the company. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 target price on shares of General Electric in a research note on Friday. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price for the company. in a research note on Wednesday. Deutsche Bank AG reiterated a “sell” rating and set a $21.00 target price (down from $24.00) on shares of General Electric in a research note on Monday, September 11th. J P Morgan Chase & Co reiterated an “underweight” rating and set a $22.00 target price on shares of General Electric in a research note on Thursday, September 7th. Finally, Cowen and Company reiterated a “hold” rating and set a $24.00 target price on shares of General Electric in a research note on Monday, August 7th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $29.42.
The company’s 50-day moving average price is $24.82 and its 200 day moving average price is $27.58. The firm has a market cap of $207.18 billion, a P/E ratio of 29.15 and a beta of 1.22.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, equities research analysts predict that General Electric Company will post $1.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is currently 118.52%.
In other General Electric news, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now directly owns 175,717 shares in the company, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. In the last three months, insiders acquired 233,253 shares of company stock worth $5,860,264. Insiders own 0.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. bought a new stake in shares of General Electric during the first quarter worth $106,000. Feltz Wealth PLAN Inc. bought a new stake in shares of General Electric during the first quarter worth $114,000. Ffcm LLC bought a new stake in shares of General Electric during the second quarter worth $114,000. PHH Investments Ltd. raised its position in shares of General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Corbenic Partners LLC raised its position in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares during the last quarter. Institutional investors own 54.78% of the company’s stock.
General Electric Company Profile
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