Traders Sell Shares of General Electric Co. (GE) on Strength (GE)
Traders sold shares of General Electric Co. (NYSE:GE) on strength during trading on Monday. $70.35 million flowed into the stock on the tick-up and $204.54 million flowed out of the stock on the tick-down, for a money net flow of $134.19 million out of the stock. Of all stocks tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.13 for the day and closed at $31.36
A number of analysts have recently issued reports on GE shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of General Electric in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. set a $29.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Monday, June 27th. Citigroup Inc. reiterated a “buy” rating on shares of General Electric in a research report on Sunday, May 22nd. Zacks Investment Research cut General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Finally, Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $31.34 price target on the stock. in a research report on Tuesday, June 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. General Electric has a consensus rating of “Hold” and an average target price of $32.60.
The stock has a market capitalization of $281.02 billion and a price-to-earnings ratio of 26.49. The stock has a 50-day moving average price of $31.63 and a 200-day moving average price of $30.73.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. During the same quarter in the prior year, the business earned $0.31 EPS. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. The company’s revenue was up 14.6% compared to the same quarter last year. Analysts anticipate that General Electric Co. will post $1.50 EPS for the current year.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
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