General Electric Sees Unusually Large Options Volume (GE)
General Electric Company (NYSE:GE) saw unusually large options trading on Tuesday. Stock traders bought 50,179 put options on the company. This is an increase of approximately 331% compared to the average volume of 11,631 put options.
In other General Electric news, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the transaction, the chief executive officer now directly owns 509,430 shares in the company, valued at approximately $13,021,030.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Intl Fcstone Inc. grew its holdings in shares of General Electric by 163.2% in the second quarter. Intl Fcstone Inc. now owns 38,320 shares of the conglomerate’s stock valued at $1,035,000 after acquiring an additional 23,760 shares in the last quarter. M Holdings Securities Inc. grew its holdings in shares of General Electric by 21.6% in the second quarter. M Holdings Securities Inc. now owns 136,875 shares of the conglomerate’s stock valued at $3,697,000 after acquiring an additional 24,344 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of General Electric in the second quarter valued at approximately $7,973,000. Kimelman & Baird LLC grew its holdings in shares of General Electric by 0.3% in the second quarter. Kimelman & Baird LLC now owns 910,162 shares of the conglomerate’s stock valued at $24,583,000 after acquiring an additional 2,545 shares in the last quarter. Finally, Sentry Investment Management LLC grew its holdings in shares of General Electric by 0.5% in the second quarter. Sentry Investment Management LLC now owns 698,585 shares of the conglomerate’s stock valued at $18,869,000 after acquiring an additional 3,225 shares in the last quarter. 54.78% of the stock is owned by institutional investors.
General Electric (GE) opened at 24.02 on Friday. The company has a market capitalization of $207.96 billion, a P/E ratio of 29.26 and a beta of 1.22. The stock’s 50 day moving average price is $25.13 and its 200 day moving average price is $27.83. General Electric has a 52 week low of $23.83 and a 52 week high of $32.38.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. Analysts anticipate that General Electric will post $1.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.
GE has been the topic of a number of research analyst reports. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a research report on Saturday, May 20th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a report on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating and set a $26.00 price objective (down from $27.00) on shares of General Electric in a report on Monday, July 24th. BidaskClub downgraded General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. Four 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’s stock. General Electric has a consensus rating of “Hold” and an average price target of $30.08.
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