Insider Buying: General Electric (NYSE:GE) VP Acquires $88,300.00 in Stock
General Electric (NYSE:GE) VP Thomas S. Timko purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average price of $8.83 per share, with a total value of $88,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of General Electric stock opened at $8.16 on Thursday. The business has a 50-day moving average of $9.85 and a 200-day moving average of $9.93. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44. The company has a market capitalization of $75.66 billion, a PE ratio of 12.55, a P/E/G ratio of 1.87 and a beta of 1.03. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. On average, equities analysts expect that General Electric will post 0.64 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $11.50 in a report on Monday, July 15th. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a report on Friday, August 16th. Cowen reiterated a “hold” rating and issued a $8.00 price target on shares of General Electric in a report on Wednesday, May 1st. William Blair reiterated a “buy” rating on shares of General Electric in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $11.68.
A number of large investors have recently bought and sold shares of GE. Ashburton Jersey Ltd acquired a new position in General Electric in the second quarter worth about $25,000. Employers Holdings Inc. acquired a new position in General Electric in the second quarter worth about $28,000. Fusion Family Wealth LLC grew its stake in General Electric by 10,516.0% in the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares in the last quarter. Arbor Wealth Management LLC acquired a new position in General Electric in the fourth quarter worth about $30,000. Finally, Manchester Financial Inc. acquired a new position in General Electric in the second quarter worth about $30,000. Institutional investors and hedge funds own 58.85% of the company’s stock.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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