Traders Buy Shares of General Electric Company (GE) on Weakness

Traders purchased shares of General Electric Company (NYSE:GE) on weakness during trading hours on Monday. $178.31 million flowed into the stock on the tick-up and $140.65 million flowed out of the stock on the tick-down, for a money net flow of $37.66 million into the stock. Of all companies tracked, General Electric had the 12th highest net in-flow for the day. General Electric traded down ($0.10) for the day and closed at $23.72

A number of research analysts recently commented on GE shares. Deutsche Bank AG set a $24.00 target price on General Electric and gave the company a “sell” rating in a research note on Saturday, May 20th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price for the company. in a research note on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating and issued a $26.00 target price (down from $27.00) on shares of General Electric in a research note on Monday, July 24th. BidaskClub lowered General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the company a “sell” rating in a research note on Monday, July 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 issued a strong buy rating to the stock. General Electric has an average rating of “Hold” and a consensus price target of $29.92.

The stock has a market cap of $205.37 billion, a price-to-earnings ratio of 28.89 and a beta of 1.22. The stock’s 50-day moving average is $25.02 and its 200-day moving average is $27.76.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. General Electric’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that General Electric Company will post $1.56 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.05%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.

In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James S. Tisch bought 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 233,253 shares of company stock valued at $5,860,264. Insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Ullmann Financial Group Inc. acquired a new position in General Electric in the 1st quarter worth about $106,000. Feltz Wealth PLAN Inc. acquired a new position in General Electric in the 1st quarter worth about $114,000. PHH Investments Ltd. increased its holdings in General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares in the last quarter. Ffcm LLC acquired a new position in General Electric in the 2nd quarter worth about $114,000. Finally, Corbenic Partners LLC increased its holdings in General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares in the last quarter. 54.78% of the stock is owned by institutional investors and hedge funds.

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