Investors Buy General Electric (GE) on Weakness

Investors purchased shares of General Electric (NYSE:GE) on weakness during trading on Wednesday. $238.97 million flowed into the stock on the tick-up and $210.57 million flowed out of the stock on the tick-down, for a money net flow of $28.40 million into the stock. Of all equities tracked, General Electric had the 10th highest net in-flow for the day. General Electric traded down ($0.22) for the day and closed at $9.20

A number of brokerages recently issued reports on GE. UBS Group cut shares of General Electric to an “add” rating and set a $23.00 price target on the stock. in a research note on Tuesday, October 2nd. Cowen reiterated a “hold” rating and issued a $14.50 price target on shares of General Electric in a research note on Monday, October 1st. MED upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research note on Thursday, July 12th. JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a research note on Tuesday, July 24th. Finally, Gabelli restated a “buy” rating on shares of General Electric in a research note on Wednesday, July 18th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.94.

The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.03. The company has a market cap of $80.66 billion, a PE ratio of 8.76, a PEG ratio of 2.40 and a beta of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The business had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. During the same quarter last year, the company earned $0.29 EPS. General Electric’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that General Electric will post 0.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend was Friday, September 14th. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

In other General Electric news, SVP Alexander Dimitrief acquired 10,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average price of $9.48 per share, for a total transaction of $94,800.00. Following the purchase, the senior vice president now directly owns 103,075 shares of the company’s stock, valued at $977,151. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $9.73 per share, for a total transaction of $2,189,250.00. The disclosure for this purchase can be found here. 1.12% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Buckley Wealth Management LLC grew its holdings in General Electric by 1.3% during the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock valued at $3,669,000 after buying an additional 3,575 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in General Electric by 28.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock valued at $221,000 after buying an additional 3,600 shares in the last quarter. Legacy Advisors LLC grew its holdings in General Electric by 16.3% during the 2nd quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock valued at $356,000 after buying an additional 3,669 shares in the last quarter. Home Federal Bank of Tennessee grew its holdings in General Electric by 7.4% during the 2nd quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock valued at $725,000 after buying an additional 3,675 shares in the last quarter. Finally, Advisors Capital Management LLC grew its holdings in General Electric by 7.6% during the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock valued at $711,000 after buying an additional 3,714 shares in the last quarter. Hedge funds and other institutional investors own 53.81% of the company’s stock.

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About General Electric (NYSE:GE)

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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