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

Investors bought shares of General Electric Company (NYSE:GE) on weakness during trading hours on Tuesday. $239.10 million flowed into the stock on the tick-up and $190.53 million flowed out of the stock on the tick-down, for a money net flow of $48.57 million into the stock. Of all companies tracked, General Electric had the 7th highest net in-flow for the day. General Electric traded down ($0.17) for the day and closed at $25.44

A number of research analysts recently weighed in on the stock. Bank of America Corporation lowered shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the company from $35.00 to $31.00 in a research report on Tuesday, April 25th. Stifel Nicolaus raised their price target on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Argus dropped their price target on shares of General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Royal Bank Of Canada dropped their price target on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Finally, Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $30.43 price target on the stock in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus price target of $30.08.

The stock has a market capitalization of $212.55 billion, a P/E ratio of 29.90 and a beta of 1.21. The company’s 50-day moving average is $25.95 and its 200 day moving average is $28.34.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same period last year, the firm posted $0.51 EPS. The company’s revenue was down 11.8% on a year-over-year basis. Equities analysts forecast that General Electric Company will post $1.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is currently 118.52%.

In related news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were 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 directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alexander Dimitrief bought 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $25.54 per share, with a total value of $47,121.30. Following the completion of the acquisition, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 133,253 shares of company stock valued at $3,404,264. Insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ullmann Financial Group Inc. purchased a new position in General Electric during the first quarter valued at approximately $106,000. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the first quarter valued at approximately $114,000. Ffcm LLC purchased a new position in General Electric during the second quarter valued at approximately $114,000. PHH Investments Ltd. raised its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the last quarter. Finally, Corbenic Partners LLC raised its position in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares during the last quarter. 54.31% of the stock is owned by institutional investors.

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