Investors Buy Shares of General Electric (GE) on Weakness
Traders purchased shares of General Electric (NYSE:GE) on weakness during trading hours on Wednesday. $659.87 million flowed into the stock on the tick-up and $646.60 million flowed out of the stock on the tick-down, for a money net flow of $13.27 million into the stock. Of all stocks tracked, General Electric had the 28th highest net in-flow for the day. General Electric traded down ($0.86) for the day and closed at $17.35
GE has been the topic of a number of research reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Vetr lowered General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target on the stock. in a report on Monday, September 25th. Morgan Stanley lowered their price objective on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $30.00 price objective (down previously from $33.00) on shares of General Electric in a report on Thursday, October 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective on shares of General Electric in a report on Thursday, October 12th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. General Electric presently has a consensus rating of “Hold” and an average price target of $22.94.
The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market capitalization of $140,180.00, a PE ratio of 19.50, a PEG ratio of 1.96 and a beta of 1.07.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. General Electric’s revenue was up 11.5% on a year-over-year basis. analysts anticipate that General Electric will post 1.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.86%. General Electric’s payout ratio is 55.81%.
In related news, Chairman John Leonard Flannery acquired 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 120,500 shares of company stock valued at $2,183,220. Insiders own 0.36% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its stake in shares of General Electric by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after buying an additional 593,686 shares during the period. Warren Averett Asset Management LLC grew its stake in shares of General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after buying an additional 6,799 shares during the period. Palouse Capital Management Inc. grew its stake in shares of General Electric by 5.4% during the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after buying an additional 9,755 shares during the period. Destination Wealth Management grew its stake in shares of General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares during the period. Finally, Rockland Trust Co. grew its stake in shares of General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after buying an additional 16,309 shares during the period. Hedge funds and other institutional investors own 55.64% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Investors Buy Shares of General Electric (GE) on Weakness” was originally published by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.dailypolitical.com/2018/01/19/investors-buy-shares-of-general-electric-ge-on-weakness.html.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.