General Electric Target of Unusually High Options Trading (GE)
General Electric Company (NYSE:GE) was the target of some unusual options trading activity on Monday. Stock traders bought 68,897 call options on the stock. This represents an increase of approximately 116% compared to the typical volume of 31,959 call options.
General Electric (GE) opened at 25.59 on Thursday. The firm’s 50-day moving average is $27.22 and its 200-day moving average is $28.97. General Electric has a 52-week low of $25.26 and a 52-week high of $32.38. The stock has a market cap of $221.89 billion, a P/E ratio of 31.17 and a beta of 1.22.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping 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 6.45% and a return on equity of 14.60%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts predict that General Electric will post $1.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.75%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
Several equities analysts have commented on GE shares. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.43 price objective for the company in a research report on Thursday, April 27th. Stifel Nicolaus increased their price objective on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. William Blair reiterated a “buy” rating on shares of General Electric in a research report on Saturday, April 1st. Credit Suisse Group reiterated a “buy” rating and set a $34.00 price objective on shares of General Electric in a research report on Tuesday, April 11th. Finally, Argus lowered their price objective on shares of General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and a consensus price target of $30.25.
In other General Electric news, insider Alexander Dimitrief acquired 1,845 shares of the stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Rohr acquired 27,425 shares of the stock in a transaction on Monday, July 24th. The shares were acquired at an average price of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Insiders have acquired 149,270 shares of company stock valued at $4,113,059 in the last quarter. 0.36% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of GE. BerganKDV Wealth Management LLC raised its stake in shares of General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after buying an additional 36 shares during the period. Puplava Financial Services Inc. raised its stake in General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after buying an additional 41 shares during the last quarter. Northwest Wealth Management LLC raised its stake in General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after buying an additional 75 shares during the last quarter. Insight 2811 Inc. raised its stake in General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares during the last quarter. Finally, Blue Fin Capital Inc. raised its stake in General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares during the last quarter. Institutional investors own 54.25% of the company’s stock.
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