General Electric Target of Unusually Large Options Trading (GE)
General Electric Company (NYSE:GE) saw unusually large options trading on Thursday. Traders purchased 35,785 put options on the stock. This represents an increase of 143% compared to the typical daily volume of 14,713 put options.
Several research analysts have recently weighed in on the company. Deutsche Bank AG restated a “neutral” rating and set a $28.00 target price on shares of General Electric in a report on Wednesday, April 5th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 target price on the stock. in a report on Tuesday, April 4th. Credit Suisse Group AG restated a “buy” rating and set a $34.00 target price on shares of General Electric in a report on Tuesday, April 11th. Cowen and Company restated a “hold” rating and set a $30.00 target price on shares of General Electric in a report on Thursday, April 20th. Finally, J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a report on Monday, April 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.08.
Shares of General Electric (GE) opened at 25.91 on Friday. The stock has a market cap of $225.00 billion, a price-to-earnings ratio of 26.38 and a beta of 1.22. General Electric has a 12 month low of $25.26 and a 12 month high of $32.38. The firm has a 50-day moving average price of $27.48 and a 200-day moving average price of $29.14.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 7.48% and a return on equity of 16.59%. General Electric’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. Equities analysts expect that General Electric will post $1.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.71%. General Electric’s dividend payout ratio (DPR) is presently 97.96%.
In other news, Director Marijn E. Dekkers acquired 20,000 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $598,000.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $29,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the acquisition, the chairman now owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 140,000 shares of company stock worth $3,964,600. 0.36% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Gilbert & Cook Inc. acquired a new position in shares of General Electric during the second quarter worth approximately $385,000. Benson Investment Management Company Inc. increased its position in shares of General Electric by 6.3% in the second quarter. Benson Investment Management Company Inc. now owns 86,037 shares of the conglomerate’s stock worth $2,324,000 after buying an additional 5,100 shares in the last quarter. Delta Asset Management LLC TN increased its position in shares of General Electric by 2.1% in the second quarter. Delta Asset Management LLC TN now owns 64,043 shares of the conglomerate’s stock worth $1,730,000 after buying an additional 1,300 shares in the last quarter. Bridges Investment Counsel Inc. increased its position in shares of General Electric by 67.7% in the second quarter. Bridges Investment Counsel Inc. now owns 191,149 shares of the conglomerate’s stock worth $5,163,000 after buying an additional 77,153 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its position in shares of General Electric by 5.1% in the second quarter. Bridges Investment Management Inc. now owns 143,631 shares of the conglomerate’s stock worth $3,880,000 after buying an additional 7,024 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors and hedge funds.
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