Investors Sell Shares of General Electric Co. (GE) on Strength (GE)
Investors sold shares of General Electric Co. (NYSE:GE) on strength during trading hours on Tuesday. $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
Several analysts recently commented on the stock. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Citigroup Inc. reaffirmed a “buy” rating on shares of General Electric in a research report on Sunday, May 22nd. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $33.10 price objective on the stock. in a research report on Wednesday, May 25th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.60.
The company’s 50 day moving average is $31.60 and its 200 day moving average is $30.75. The stock has a market cap of $281.11 billion and a P/E ratio of 26.49.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The company earned $33.49 million during the quarter, compared to analyst estimates of $31.76 billion. During the same period in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. Analysts expect that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction that occurred on 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 owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.