Traders Sell General Electric Co. (GE) on Strength (GE)
Traders sold shares of General Electric Co. (NYSE:GE) on strength during trading hours on Thursday. $117.61 million flowed into the stock on the tick-up and $152.02 million flowed out of the stock on the tick-down, for a money net flow of $34.41 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 $0.27 for the day and closed at $32.63
GE has been the subject of a number of recent research reports. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $31.67 target price for the company in a report on Wednesday. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a report on Wednesday, June 29th. Finally, William Blair reiterated an “outperform” rating and issued a $38.00 target price on shares of General Electric in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus target price of $32.88.
The firm’s 50 day moving average price is $30.86 and its 200 day moving average price is $30.15. The stock has a market capitalization of $302.35 billion and a price-to-earnings ratio of 44.55.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, April 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company earned $27.60 billion during the quarter, compared to analysts’ expectations of $27.67 billion. General Electric’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. On average, equities research analysts predict that General Electric Co. will post $1.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 20th will be given a $0.23 dividend. The ex-dividend date is Thursday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.80%.
In related news, CEO Jeffrey R. Immelt purchased 67,600 shares of the company’s stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $29.59 per share, for a total transaction of $2,000,284.00. Following the completion of the transaction, the chief executive officer now directly owns 2,158,688 shares of the company’s stock, valued at $63,875,577.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Other large investors recently bought and sold shares of the company. Jennison Associates bought a new stake in General Electric during the third quarter worth about $35,297,000. 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 last quarter. Finally, 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 last quarter.
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