Traders Buy High Volume of Put Options on General Electric (GE)
Shares of General Electric (NYSE:GE) saw some unusual options trading activity on Friday. Investors bought 37,922 put options on the stock, American Banking News reports. This represents an increase of approximately 117% compared to the typical volume of 17,455 put options.
In other General Electric news, Director William G. Beattie bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $25.47 per share, with a total value of $50,940.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on GE shares. Analysts at TheStreet reiterated a “buy” rating on shares of General Electric in a research note to investors on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of General Electric in a research note to investors on Monday, January 20th. They now have a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. General Electric has an average rating of “Buy” and a consensus price target of $27.66.
General Electric (NYSE:GE) opened at 24.95 on Monday. General Electric has a one year low of $21.11 and a one year high of $28.09. The stock has a 50-day moving average of $27.05 and a 200-day moving average of $25.36. The company has a market cap of $251.7 billion and a price-to-earnings ratio of 18.97.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.53 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.44 earnings per share. General Electric’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that General Electric will post $1.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, January 27th. Investors of record on Monday, December 23rd will be paid a dividend of 0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, December 19th. This is an increase 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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