Investors Sell Shares of General Electric Co. (GE) on Strength (GE)
Investors sold shares of General Electric Co. (NYSE:GE) on strength during trading on Friday. $73.47 million flowed into the stock on the tick-up and $122.39 million flowed out of the stock on the tick-down, for a money net flow of $48.92 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 $0.02 for the day and closed at $31.23
Several equities analysts recently weighed in on the stock. Citigroup Inc. reissued a “buy” rating on shares of General Electric in a research note on Sunday, May 22nd. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 target price for the company in a research note on Thursday, July 21st. TheStreet raised shares of General Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.60.
The company has a 50-day moving average of $31.65 and a 200 day moving average of $30.66. The firm has a market capitalization of $279.86 billion and a PE ratio of 26.38.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts forecast that General Electric Co. will post $1.50 EPS for the current year.
In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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