Investors Buy High Volume of Put Options on General Electric Company (NYSE:GE)
General Electric Company (NYSE:GE) was the recipient of unusually large options trading on Wednesday. Investors purchased 55,080 put options on the stock. This is an increase of 297% compared to the typical volume of 13,878 put options.
In other news, Director Marijn E. Dekkers bought 20,000 shares of the company’s stock in a transaction on Monday, April 24th. The shares were bought at an average cost of $29.90 per share, with a total value of $598,000.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $29,900. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William G. Beattie bought 4,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $27.70 per share, for a total transaction of $110,800.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 140,000 shares of company stock valued at $3,964,600. Company insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of General Electric Company during the fourth quarter worth approximately $1,892,000. Highland Private Wealth Management increased its stake in General Electric Company by 2.8% in the fourth quarter. Highland Private Wealth Management now owns 17,599 shares of the conglomerate’s stock worth $556,000 after buying an additional 474 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in General Electric Company by 12.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,076,560 shares of the conglomerate’s stock worth $34,019,000 after buying an additional 116,080 shares during the last quarter. Private Advisory Group LLC bought a new stake in General Electric Company during the fourth quarter worth $1,363,000. Finally, Asset Planning Services Inc. LA ADV bought a new stake in General Electric Company during the fourth quarter worth $4,190,000. Institutional investors own 54.25% of the company’s stock.
Several brokerages have weighed in on GE. Vetr raised General Electric Company from a “buy” rating to a “strong-buy” rating and set a $30.48 target price on the stock in a research report on Monday. Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric Company and gave the stock a “neutral” rating in a research report on Friday. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $22.00 target price (down from $27.00) on shares of General Electric Company in a research report on Thursday. Standpoint Research raised General Electric Company from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Thursday, June 29th. Finally, BidaskClub lowered General Electric Company from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.91.
General Electric Company (NYSE:GE) opened at 26.15 on Friday. The company has a market cap of $227.09 billion, a P/E ratio of 26.63 and a beta of 1.22. General Electric Company has a 52-week low of $25.98 and a 52-week high of $33.00. The company’s 50 day moving average price is $27.94 and its 200 day moving average price is $29.66.
General Electric Company (NYSE:GE) last released its earnings results on Friday, April 21st. The conglomerate reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. General Electric Company had a return on equity of 16.59% and a net margin of 7.48%. The firm had revenue of $27.66 billion during the quarter, compared to analysts’ expectations of $26.37 billion. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that General Electric Company will post $1.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, June 15th. General Electric Company’s payout ratio is 97.96%.
TRADEMARK VIOLATION NOTICE: “Investors Buy High Volume of Put Options on General Electric Company (NYSE:GE)” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/08/investors-buy-high-volume-of-put-options-on-general-electric-company-nysege.html.
General Electric Company Company Profile
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.