Traders Sell Shares of General Electric Company (GE) on Strength (GE)
Traders sold shares of General Electric Company (NYSE:GE) on strength during trading hours on Friday. $198.42 million flowed into the stock on the tick-up and $320.72 million flowed out of the stock on the tick-down, for a money net flow of $122.30 million out of the stock. Of all companies tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.59 for the day and closed at $25.14
A number of research analysts recently commented on GE shares. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective on the stock. in a report on Thursday, May 11th. Deutsche Bank AG cut General Electric from a “hold” rating to a “sell” rating and decreased their price target for the stock from $28.00 to $24.00 in a research note on Friday, May 12th. TheStreet cut General Electric from a “b-” rating to a “c” rating in a research note on Friday, May 19th. Credit Suisse Group decreased their price target on General Electric from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, June 1st. They noted that the move was a valuation call. Finally, Cowen and Company restated a “market perform” rating and set a $30.00 price target on shares of General Electric in a research note on Tuesday, June 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average target price of $30.08.
The firm has a market cap of $217.66 billion, a PE ratio of 30.62 and a beta of 1.22. The company’s 50-day moving average is $25.37 and its 200-day moving average is $27.97.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts expect that General Electric Company will post $1.57 EPS for the current fiscal year.
In related news, CEO John Leonard Flannery bought 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now directly owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. Insiders acquired a total of 233,253 shares of company stock worth $5,860,264 in the last quarter. 0.36% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new stake in General Electric during the fourth quarter valued at $3,916,000. Norges Bank bought a new stake in General Electric during the fourth quarter valued at $2,383,193,000. Patriot Financial Group Insurance Agency LLC bought a new stake in General Electric during the fourth quarter valued at $705,000. Aristotle Capital Management LLC increased its stake in General Electric by 79.7% in the fourth quarter. Aristotle Capital Management LLC now owns 2,548,459 shares of the conglomerate’s stock valued at $80,531,000 after buying an additional 1,129,946 shares during the last quarter. Finally, Westport Asset Management Inc. bought a new stake in General Electric during the fourth quarter valued at $1,333,000. 54.77% of the stock is owned by institutional investors.
About General Electric
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