Investors Buy Shares of General Electric (GE) on Weakness

Investors bought shares of General Electric (NYSE:GE) on weakness during trading hours on Friday. $186.88 million flowed into the stock on the tick-up and $102.10 million flowed out of the stock on the tick-down, for a money net flow of $84.78 million into the stock. Of all equities tracked, General Electric had the 28th highest net in-flow for the day. General Electric traded down ($0.37) for the day and closed at $13.06

A number of research firms recently weighed in on GE. Morningstar set a $23.50 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Citigroup dropped their price objective on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Stifel Nicolaus set a $18.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a report on Monday, December 11th. Cowen reaffirmed a “market perform” rating and issued a $15.00 price objective (down previously from $17.00) on shares of General Electric in a report on Monday, February 26th. Finally, UBS began coverage on shares of General Electric in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 price objective on the stock. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and an average target price of $18.09.

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The stock has a market cap of $116,607.00, a PE ratio of 12.44, a PEG ratio of 2.61 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87.

General Electric (NYSE:GE) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. sell-side analysts expect that General Electric will post 0.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.68%. General Electric’s dividend payout ratio is presently 45.71%.

In related news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of General Electric by 1.5% in the fourth quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock worth $9,278,731,000 after buying an additional 7,675,642 shares during the period. Franklin Resources Inc. boosted its holdings in shares of General Electric by 64.6% in the fourth quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock worth $3,222,649,000 after buying an additional 72,489,551 shares during the period. Capital World Investors boosted its holdings in shares of General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after buying an additional 11,194,678 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares during the period. Institutional investors own 56.30% of the company’s stock.

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General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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