Investors Sell Shares of General Electric Co. (GE) on Strength (GE)
Investors sold shares of General Electric Co. (NYSE:GE) on strength during trading hours on Tuesday. $122.28 million flowed into the stock on the tick-up and $155.63 million flowed out of the stock on the tick-down, for a money net flow of $33.35 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 $0.24 for the day and closed at $29.67
A number of research analysts recently issued reports on GE shares. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.83 target price for the company in a research report on Monday. Zacks Investment Research upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, September 13th. William Blair set a $38.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Thursday, September 8th. Stifel Nicolaus set a $34.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Morgan Stanley set a $32.00 price objective on shares of General Electric and gave the stock a “hold” rating in a research report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. General Electric currently has a consensus rating of “Buy” and an average price target of $32.64.
The company has a 50-day moving average of $30.91 and a 200 day moving average of $30.84. The company has a market cap of $265.88 billion, a PE ratio of 25.08 and a beta of 1.11.
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General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities research analysts anticipate that General Electric Co. will post $1.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s payout ratio is currently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GE. Cable Hill Partners LLC increased its stake in shares of General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the period. Horizon Investments LLC increased its stake in shares of General Electric by 0.5% in the second quarter. Horizon Investments LLC now owns 7,832 shares of the company’s stock worth $247,000 after buying an additional 36 shares during the period. Financial Management Professionals Inc. increased its stake in shares of General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock worth $274,000 after buying an additional 46 shares during the period. Barry Investment Advisors LLC increased its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the period. Finally, Allegis Investment Advisors LLC increased its stake in shares of General Electric by 0.5% in the second quarter. Allegis Investment Advisors LLC now owns 11,430 shares of the company’s stock worth $349,000 after buying an additional 59 shares during the period. Institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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