Insider Buying: General Electric Company (GE) Director Purchases 27,425 Shares of Stock
General Electric Company (NYSE:GE) Director James E. Rohr purchased 27,425 shares of the company’s stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $699,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
General Electric Company (GE) traded up 0.04% during trading on Tuesday, hitting $25.44. 46,176,810 shares of the company traded hands. The stock has a 50 day moving average price of $27.35 and a 200 day moving average price of $29.04. General Electric Company has a 12-month low of $25.26 and a 12-month high of $32.38. The company has a market capitalization of $220.59 billion, a P/E ratio of 30.99 and a beta of 1.22. General Electric also was the target of some unusual options trading on Monday. Investors purchased 68,897 call options on the company. This represents an increase of 116% compared to the average volume of 31,959 call options.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.60% and a net margin of 6.45%. The business had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the business posted $0.51 EPS. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that General Electric Company will post $1.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Investors 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 yield of 3.77%. The ex-dividend date is Thursday, June 15th. General Electric’s dividend payout ratio is currently 118.52%.
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A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of General Electric during the fourth quarter worth about $2,383,193,000. Harris Associates L P boosted its stake in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Trustees of General Electric Pension Trust purchased a new stake in shares of General Electric during the fourth quarter worth about $1,038,590,000. Schwab Charles Investment Management Inc. boosted its stake in shares of General Electric by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after buying an additional 776,656 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock worth $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Institutional investors and hedge funds own 54.25% of the company’s stock.
GE has been the topic of several analyst reports. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 price target on the stock. in a research report on Tuesday, April 4th. Deutsche Bank AG set a $24.00 price target on shares of General Electric and gave the stock a “sell” rating in a research report on Saturday, May 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 price target (down from $27.00) on shares of General Electric in a research report on Monday. Stifel Nicolaus upped their price target on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada dropped their price target on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. General Electric has a consensus rating of “Hold” and a consensus target price of $30.25.
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