General Electric Company (GE) CEO John Leonard Flannery Acquires 103,983 Shares
General Electric Company (NYSE:GE) CEO John Leonard Flannery bought 103,983 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
General Electric Company (NYSE:GE) traded up 0.59% during midday trading on Wednesday, hitting $25.71. 29,667,714 shares of the stock were exchanged. The stock has a market cap of $222.60 billion, a P/E ratio of 31.32 and a beta of 1.21. General Electric Company has a one year low of $25.26 and a one year high of $32.38. The firm has a 50-day moving average price of $26.68 and a 200-day moving average price of $28.71.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate 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 company posted $0.51 EPS. On average, equities research analysts anticipate that General Electric Company will post $1.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.
Several equities analysts recently issued reports on the stock. Cowen and Company reiterated a “hold” rating and issued a $24.00 target price on shares of General Electric in a research note on Monday. Stifel Nicolaus decreased their target price on shares of General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the company a “sell” rating in a research note on Monday, July 24th. Citigroup Inc. reiterated a “buy” rating and issued a $31.00 target price (down from $34.00) on shares of General Electric in a research note on Monday, July 24th. Finally, Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price for the company in a research note on Wednesday, June 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $30.08.
A number of hedge funds have recently bought and sold shares of GE. Shoker Investment Counsel Inc. boosted its stake in General Electric by 4.4% in the second quarter. Shoker Investment Counsel Inc. now owns 91,995 shares of the conglomerate’s stock worth $2,484,000 after buying an additional 3,877 shares in the last quarter. Argent Trust Co boosted its stake in General Electric by 0.5% in the second quarter. Argent Trust Co now owns 115,467 shares of the conglomerate’s stock worth $3,119,000 after buying an additional 615 shares in the last quarter. Fiduciary Trust Co. boosted its stake in General Electric by 0.5% in the second quarter. Fiduciary Trust Co. now owns 1,707,399 shares of the conglomerate’s stock worth $46,116,000 after buying an additional 8,167 shares in the last quarter. Ffcm LLC bought a new stake in General Electric during the second quarter worth approximately $114,000. Finally, Glassman Wealth Services boosted its stake in General Electric by 0.4% in the second quarter. Glassman Wealth Services now owns 48,919 shares of the conglomerate’s stock worth $1,321,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.
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