Traders Buy Large Volume of Put Options on General Electric (GE)
Shares of General Electric (NYSE:GE) was the recipient of some unusual options trading activity on Friday. Investors acquired 57,215 put options on the company, AnalystRatingsNetwork.com reports. This is an increase of approximately 199% compared to the typical daily volume of 19,140 put options.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Monday. Separately, analysts at Oppenheimer downgraded shares of General Electric from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, January 3rd. They now have a $29.00 price target on the stock. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $27.40.
Shares of General Electric (NYSE:GE) traded down 2.28% during mid-day trading on Friday, hitting $26.58. 97,300,712 shares of the company’s stock traded hands. General Electric has a 52 week low of $21.11 and a 52 week high of $28.09. The stock’s 50-day moving average is $27.1 and its 200-day moving average is $25.26. The company has a market cap of $268.9 billion and a P/E ratio of 20.45.
General Electric (NYSE:GE) last announced its earnings results on Friday, January 17th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $40.40 billion for the quarter, compared to the consensus estimate of $40.22 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 3.1% 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 declared a quarterly dividend, which is scheduled for Monday, January 27th. Stockholders of record on Monday, December 23rd will be given a dividend of 0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, December 19th. This is a boost from General Electric’s previous quarterly dividend of $0.19.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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