Traders Sell Shares of General Electric Company (GE) on Strength (GE)
Traders 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 equities 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
Several brokerages have issued reports on GE. BidaskClub raised General Electric from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 17th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $29.97 target price on the stock. in a research report on Monday, June 19th. Bank of America Corporation reissued a “neutral” rating and issued a $31.00 target price on shares of General Electric in a research report on Tuesday, June 13th. Cowen and Company reissued a “market perform” rating and issued a $30.00 target price on shares of General Electric in a research report on Tuesday, June 13th. Finally, Deutsche Bank AG cut General Electric from a “hold” rating to a “sell” rating and dropped their target price for the stock from $28.00 to $24.00 in a research report on Friday, May 12th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. General Electric has an average rating of “Hold” and a consensus price target of $30.08.
The stock has a market cap of $214.37 billion, a price-to-earnings ratio of 30.16 and a beta of 1.22. The stock has a 50 day moving average price of $25.27 and a 200-day moving average price of $27.88. General Electric also saw unusually large options trading on Monday. Stock investors purchased 44,120 call options on the company. This represents an increase of approximately 206% compared to the average volume of 14,429 call options.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’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 earnings per share. On average, analysts expect that General Electric Company will post $1.56 earnings per share for the current year.
In other news, insider Alexander Dimitrief bought 1,845 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. In the last 90 days, insiders bought 233,253 shares of company stock worth $5,860,264. Company insiders own 0.36% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smithbridge Asset Management Inc. DE lifted its position in shares of General Electric by 47.2% in the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after acquiring an additional 10,025 shares in the last quarter. Sabal Trust CO lifted its position in General Electric by 5.4% during the second quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock worth $29,198,000 after buying an additional 55,049 shares in the last quarter. Rathbone Brothers plc lifted its position in General Electric by 0.5% during the first quarter. Rathbone Brothers plc now owns 1,326,585 shares of the conglomerate’s stock worth $39,532,000 after buying an additional 7,249 shares in the last quarter. Norway Savings Bank lifted its position in General Electric by 1.3% during the second quarter. Norway Savings Bank now owns 50,354 shares of the conglomerate’s stock worth $1,360,000 after buying an additional 644 shares in the last quarter. Finally, Windsor Financial Group LLC lifted its position in General Electric by 497.6% during the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock worth $4,662,000 after buying an additional 130,275 shares in the last quarter. Institutional investors and hedge funds own 54.78% of the company’s stock.
General Electric Company Profile
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