Traders Sell General Electric Co. (GE) on Strength (GE)
Traders 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
A number of analysts have weighed in on the company. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. William Blair restated an “outperform” rating and set a $38.00 target price on shares of General Electric in a report on Wednesday, May 25th. Sanford C. Bernstein restated a “market perform” rating and set a $34.00 target price on shares of General Electric in a report on Thursday, May 19th. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $31.34 target price for the company in a report on Monday, June 13th. Finally, Morgan Stanley restated an “equal weight” rating and set a $32.00 target price on shares of General Electric in a report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus target price of $32.60.
The firm’s 50-day moving average price is $31.65 and its 200 day moving average price is $30.66. The company has a market cap of $279.86 billion and a PE ratio of 26.38.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. During the same period last year, the firm earned $0.31 earnings per share. The company earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. General Electric’s revenue was up 14.6% on a year-over-year basis. On average, equities research analysts anticipate that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.