Investors Sell General Electric (GE) on Strength (GE)
Traders sold shares of General Electric (NYSE:GE) on strength during trading hours on Thursday. $262.88 million flowed into the stock on the tick-up and $371.89 million flowed out of the stock on the tick-down, for a money net flow of $109.01 million out of the stock. Of all companies tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.38 for the day and closed at $18.53
Several research analysts have recently commented on the company. Morgan Stanley lowered General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target for the company. in a research report on Monday, October 23rd. Stifel Nicolaus lowered General Electric from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $22.00 in a research report on Tuesday, October 24th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of General Electric in a research report on Thursday, September 21st. Vetr raised General Electric from a “sell” rating to a “hold” rating and set a $21.74 price target for the company in a research report on Monday, October 23rd. Finally, Argus reduced their price target on General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 18th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $23.39.
The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The company has a market cap of $160,780.00, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.07.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts expect that General Electric will post 1.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.59%. General Electric’s dividend payout ratio (DPR) is 55.81%.
In other news, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman John Leonard Flannery purchased 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Ffcm LLC purchased a new stake in General Electric during the 2nd quarter valued at about $114,000. MPS Loria Financial Planners LLC purchased a new stake in General Electric during the 2nd quarter valued at about $113,000. Corbenic Partners LLC boosted its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of General Electric in the third quarter worth about $164,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of General Electric in the first quarter worth about $226,000. Institutional investors and hedge funds own 55.62% of the company’s stock.
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General Electric Company Profile
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