Traders Buy General Electric (GE) on Weakness

Traders bought shares of General Electric (NYSE:GE) on weakness during trading hours on Monday. $235.06 million flowed into the stock on the tick-up and $129.48 million flowed out of the stock on the tick-down, for a money net flow of $105.58 million into the stock. Of all companies tracked, General Electric had the 21st highest net in-flow for the day. General Electric traded down ($0.36) for the day and closed at $13.12

A number of equities research analysts have issued reports on the company. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a research report on Wednesday, January 10th. JPMorgan Chase restated a “sell” rating and set a price objective on shares of General Electric in a research report on Monday, January 15th. Deutsche Bank restated a “sell” rating and set a $15.00 price objective on shares of General Electric in a research report on Wednesday, January 17th. Vertical Research set a $18.00 price objective on General Electric and gave the company a “hold” rating in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus set a $18.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Monday, December 11th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.27.

The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The firm has a market capitalization of $117,041.13, a price-to-earnings ratio of 12.50, a P/E/G ratio of 2.56 and a beta of 1.02.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. analysts expect that General Electric will post 0.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.66%. General Electric’s payout ratio is currently 45.71%.

In other news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beach Investment Management LLC. bought a new stake in General Electric during the 2nd quarter valued at $5,487,000. Comprehensive Portfolio Management LLC bought a new stake in General Electric during the 2nd quarter valued at $932,000. Hourglass Capital LLC boosted its position in General Electric by 10.4% during the 2nd quarter. Hourglass Capital LLC now owns 266,112 shares of the conglomerate’s stock valued at $7,188,000 after acquiring an additional 25,020 shares in the last quarter. Private Vista LLC bought a new stake in General Electric during the 2nd quarter valued at $368,000. Finally, Sicart Associates LLC boosted its position in General Electric by 5.6% during the 2nd quarter. Sicart Associates LLC now owns 37,800 shares of the conglomerate’s stock valued at $1,021,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 56.30% of the company’s stock.

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General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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