General Electric Company (GE) Vice Chairman Sells $633,375.45 in Stock
General Electric Company (NYSE:GE) Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the transaction, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
General Electric Company (NYSE:GE) traded up 0.59% during mid-day trading on Wednesday, hitting $25.71. The stock had a trading volume of 29,670,988 shares. The company has a 50 day moving average price of $26.68 and a 200 day moving average price of $28.71. The stock has a market cap of $222.60 billion, a P/E ratio of 31.32 and a beta of 1.21. General Electric Company has a one year low of $25.26 and a one year high of $32.38.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. On average, equities analysts anticipate that General Electric Company will post $1.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.73%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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Several research firms have recently commented on GE. Cowen and Company restated a “hold” rating and set a $24.00 price target on shares of General Electric in a research report on Monday. Stifel Nicolaus lowered their price target on General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Citigroup Inc. restated a “buy” rating and set a $31.00 price target (down from $34.00) on shares of General Electric in a research report on Monday, July 24th. Finally, Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target for the company in a research report on Wednesday, June 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.08.
A number of large investors have recently added to or reduced their stakes in GE. Shoker Investment Counsel Inc. raised its stake in General Electric by 4.4% in the second quarter. Shoker Investment Counsel Inc. now owns 91,995 shares of the conglomerate’s stock valued at $2,484,000 after buying an additional 3,877 shares during the period. Argent Trust Co raised its stake in General Electric by 0.5% in the second quarter. Argent Trust Co now owns 115,467 shares of the conglomerate’s stock valued at $3,119,000 after buying an additional 615 shares during the period. Fiduciary Trust Co. raised its stake in General Electric by 0.5% in the second quarter. Fiduciary Trust Co. now owns 1,707,399 shares of the conglomerate’s stock valued at $46,116,000 after buying an additional 8,167 shares during the period. Ffcm LLC acquired a new stake in General Electric during the second quarter valued at $114,000. Finally, Glassman Wealth Services raised its stake in General Electric by 0.4% in the second quarter. Glassman Wealth Services now owns 48,919 shares of the conglomerate’s stock valued at $1,321,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 54.29% of the company’s stock.
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