Investors Buy General Electric Company (GE) on Weakness

Traders purchased shares of General Electric Company (NYSE:GE) on weakness during trading hours on Thursday. $306.22 million flowed into the stock on the tick-up and $268.19 million flowed out of the stock on the tick-down, for a money net flow of $38.03 million into the stock. Of all stocks tracked, General Electric had the 18th highest net in-flow for the day. General Electric traded down ($0.18) for the day and closed at $21.32

Several research firms have weighed in on GE. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research note on Monday, July 24th. Morgan Stanley restated an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a research note on Monday, July 17th. Stifel Nicolaus downgraded General Electric from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $22.00 in a research note on Tuesday. Credit Suisse Group restated an “outperform” rating and issued a $33.00 price target on shares of General Electric in a research note on Saturday, July 22nd. Finally, Cowen and Company restated a “hold” rating and issued a $27.00 price target on shares of General Electric in a research note on Monday, July 17th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $26.28.

The stock has a 50-day moving average price of $23.88 and a 200-day moving average price of $26.35. The stock has a market cap of $184.59 billion, a price-to-earnings ratio of 25.97 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.73%. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, analysts forecast that General Electric Company will post $1.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were issued a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.50%. General Electric’s dividend payout ratio is presently 120.00%.

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 transaction of $633,375.45. Following the sale, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Leonard Flannery purchased 103,983 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GE. Harvey Capital Management Inc. increased its holdings in General Electric by 50.0% during the 1st quarter. Harvey Capital Management Inc. now owns 30,000 shares of the conglomerate’s stock worth $894,000 after purchasing an additional 10,000 shares during the period. Harvey Investment Co. LLC increased its holdings in General Electric by 0.3% during the 1st quarter. Harvey Investment Co. LLC now owns 174,308 shares of the conglomerate’s stock worth $5,194,000 after purchasing an additional 471 shares during the period. Lodestar Investment Counsel LLC IL increased its holdings in General Electric by 1.3% during the 1st quarter. Lodestar Investment Counsel LLC IL now owns 358,068 shares of the conglomerate’s stock worth $10,670,000 after purchasing an additional 4,753 shares during the period. Financial Management Professionals Inc. increased its holdings in General Electric by 17.2% during the 1st quarter. Financial Management Professionals Inc. now owns 8,558 shares of the conglomerate’s stock worth $255,000 after purchasing an additional 1,257 shares during the period. Finally, Vicus Capital increased its holdings in General Electric by 66.0% during the 1st quarter. Vicus Capital now owns 84,863 shares of the conglomerate’s stock worth $2,529,000 after purchasing an additional 33,741 shares during the period. Institutional investors own 54.61% of the company’s stock.

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