Investors Sell General Electric Co. (GE) on Strength (GE)
Traders sold shares of General Electric Co. (NYSE:GE) on strength during trading hours on Monday. $97.65 million flowed into the stock on the tick-up and $122.22 million flowed out of the stock on the tick-down, for a money net flow of $24.57 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 $0.07 for the day and closed at $31.32
Several equities analysts have recently issued reports on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Independent Research GmbH set a $37.00 target price on General Electric and gave the stock a “buy” rating in a report on Tuesday, April 26th. Citigroup Inc. reissued a “buy” rating on shares of General Electric in a report on Sunday, May 22nd. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Finally, Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $33.10 target price on the stock. in a report on Wednesday, May 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $32.55.
The firm has a market capitalization of $280.67 billion and a PE ratio of 26.45. The stock has a 50 day moving average price of $31.70 and a 200 day moving average price of $30.61.
General Electric (NYSE:GE) last posted its 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. The firm earned $33.49 million during the quarter, compared to analyst estimates of $31.76 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that General Electric Co. will post $1.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, June 20th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $0.92 annualized dividend and a yield of 2.94%.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
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