General Electric Target of Unusually Large Options Trading (GE)
General Electric (NYSE:GE) saw some unusual options trading on Thursday. Traders bought 36,534 put options on the stock, StockRatingsNetwork.com reports. This is an increase of 158% compared to the typical volume of 14,169 put options.
A number of research firms have recently commented on GE. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Tuesday, October 8th. Separately, analysts at Barclays raised their price target on shares of General Electric from $26.00 to $27.00 in a research note to investors on Monday, October 7th. They now have an “overweight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of General Electric in a research note to investors on Monday, October 7th. They set a “neutral” rating and a $26.00 price target on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $27.64.
Shares of General Electric (NYSE:GE) traded up 1.31% during mid-day trading on Thursday, hitting $24.68. The stock had a trading volume of 45,379,932 shares. General Electric has a one year low of $19.87 and a one year high of $24.95. The stock’s 50-day moving average is $23.88 and its 200-day moving average is $23.43. The company has a market cap of $251.3 billion and a P/E ratio of 18.03.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 19th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $35.12 billion for the quarter, compared to the consensus estimate of $35.58 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts expect that General Electric will post $1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, September 19th.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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