Stock Traders Purchase High Volume of Call Options on General Electric (NYSE:GE)

General Electric (NYSE:GE) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 87,732 call options on the company. This is an increase of approximately 144% compared to the typical daily volume of 35,883 call options.

General Electric Price Performance

Shares of GE stock traded down $2.21 during mid-day trading on Tuesday, reaching $160.63. The company’s stock had a trading volume of 2,003,199 shares, compared to its average volume of 7,346,278. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm’s 50-day moving average is $159.90 and its two-hundred day moving average is $147.58. General Electric has a 1-year low of $82.11 and a 1-year high of $170.80. The company has a market cap of $175.83 billion, a P/E ratio of 53.06, a PEG ratio of 1.79 and a beta of 1.23.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts predict that General Electric will post 3.98 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a dividend of $0.28 per share. 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 0.70%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Electric

Several large investors have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new position in General Electric in the 1st quarter valued at $34,000. Halpern Financial Inc. raised its holdings in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in General Electric during the 1st quarter worth about $37,000. Criterion Capital Advisors LLC bought a new stake in General Electric during the 4th quarter worth about $27,000. Finally, CGC Financial Services LLC increased its position in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group raised their price objective on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Royal Bank of Canada raised their price objective on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Argus raised their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com began coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating for the company. Finally, Jefferies Financial Group lifted their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $177.27.

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.