Traders Sell Shares of General Electric Co. (GE) on Strength (GE)
Traders sold shares of General Electric Co. (NYSE:GE) on strength during trading hours on Tuesday. $155.49 million flowed into the stock on the tick-up and $270.60 million flowed out of the stock on the tick-down, for a money net flow of $115.11 million out of the stock. Of all equities tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.05 for the day and closed at $32.26
GE has been the topic of a number of research analyst reports. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $33.46 price target on the stock in a research report on Monday, April 4th. Goldman Sachs Group Inc. set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Monday, June 27th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Electric in a research report on Monday, June 20th. Sanford C. Bernstein downgraded General Electric from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $33.00 to $34.00 in a report on Monday, April 4th. They noted that the move was a valuation call. Finally, William Blair reiterated an “outperform” rating and set a $38.00 price objective on shares of General Electric in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $32.84.
The company has a market capitalization of $296.65 billion and a PE ratio of 43.71. The firm’s 50-day moving average is $30.63 and its 200 day moving average is $30.10.
General Electric (NYSE:GE) last released its earnings results on Friday, April 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. During the same period in the prior year, the company earned $0.20 earnings per share. The business earned $27.60 billion during the quarter, compared to the consensus estimate of $27.67 billion. The business’s revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 20th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, June 16th.
In other General Electric news, CEO Jeffrey R. Immelt bought 67,600 shares of General Electric stock in a transaction dated Friday, May 20th. The stock was bought at an average cost of $29.59 per share, with a total value of $2,000,284.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,158,688 shares in the company, valued at approximately $63,875,577.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates purchased a new position in shares of General Electric during the third quarter valued at $35,297,000. Toth Financial raised its position in shares of General Electric by 1.7% in the fourth quarter. Toth Financial now owns 282,981 shares of the company’s stock valued at $8,815,000 after buying an additional 4,756 shares during the period. Finally, Buckingham Capital Management Inc. raised its position in shares of General Electric by 3.6% in the third quarter. Buckingham Capital Management Inc. now owns 179,622 shares of the company’s stock valued at $4,530,000 after buying an additional 6,325 shares during the period.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.