Traders Sell Shares of General Electric Company (GE) on Strength (GE)
Investors sold shares of General Electric Company (NYSE:GE) on strength during trading on Monday. $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 stocks tracked, General Electric had the 3rd highest net out-flow for the day. General Electric traded up $0.59 for the day and closed at $25.14
Several analysts have issued reports on GE shares. UBS Group AG restated a “buy” rating and set a $31.00 price objective (down previously from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price objective on General Electric and gave the stock a “sell” rating in a report on Monday, May 29th. Citigroup Inc restated a “buy” rating and set a $34.00 price objective (down previously from $36.00) on shares of General Electric in a report on Monday, July 10th. Vetr downgraded 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. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Friday, July 7th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average price target of $30.08.
The stock has a market capitalization of $217.66 billion, a price-to-earnings 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 announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter last year, the firm earned $0.51 EPS. General Electric’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that General Electric Company will post $1.57 earnings per share for the current year.
In related news, Director James E. Rohr purchased 27,425 shares of the stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $25.50 per share, with a total value of $699,337.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James S. Tisch purchased 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Ullmann Financial Group Inc. acquired a new position in shares of General Electric during the 1st quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric during the 1st quarter worth approximately $114,000. Ffcm LLC bought a new position in shares of General Electric during the 2nd quarter worth approximately $114,000. PHH Investments Ltd. boosted its stake in shares of General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 2,000 shares during the period. Finally, Corbenic Partners LLC boosted its stake in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares during the period. 54.78% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: “Traders Sell Shares of General Electric Company (GE) on Strength (GE)” was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.dailypolitical.com/2017/09/04/traders-sell-shares-of-general-electric-company-ge-on-strength-ge-3.html.
General Electric Company Profile
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.