Investors bought shares of General Electric Company (NYSE:GE) on weakness during trading on Tuesday after an insider sold shares in the company. $144.04 million flowed into the stock on the tick-up and $100.29 million flowed out of the stock on the tick-down, for a money net flow of $43.75 million into the stock. Of all stocks tracked, General Electric Company had the 16th highest net in-flow for the day. General Electric Company traded down ($0.10) for the day and closed at $29.56Specifically, Vice Chairman David Leon Joyce sold 159,662 shares of General Electric Company stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $29.56, for a total value of $4,719,608.72. Following the completion of the sale, the insider now directly owns 738,907 shares in the company, valued at $21,842,090.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Bornstein acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The stock was purchased at an average price of $29.63 per share, with a total value of $148,150.00. Following the completion of the acquisition, the insider now directly owns 68,757 shares of the company’s stock, valued at $2,037,269.91. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by company insiders.
GE has been the subject of several recent research reports. J P Morgan Chase & Co restated an “underweight” rating and issued a $28.00 price objective on shares of General Electric Company in a report on Thursday, January 5th. Barclays PLC set a $32.00 target price on General Electric Company and gave the company a “buy” rating in a research note on Monday, October 17th. Vetr lowered General Electric Company from a “strong-buy” rating to a “buy” rating and set a $32.72 target price on the stock. in a research note on Monday, October 31st. Goldman Sachs Group, Inc. (The) set a $30.00 target price on General Electric Company and gave the company a “neutral” rating in a research note on Monday, November 21st. Finally, Zacks Investment Research lowered General Electric Company from a “hold” rating to a “sell” rating in a research note on Wednesday, November 30th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $33.55.
The firm has a 50-day moving average of $30.86 and a 200 day moving average of $30.53. The firm has a market capitalization of $258.84 billion, a price-to-earnings ratio of 32.85 and a beta of 1.20.
General Electric Company (NYSE:GE) last released its quarterly earnings results on Friday, January 20th. The company reported $0.46 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.46. General Electric Company had a return on equity of 15.99% and a net margin of 6.86%. The company earned $33.10 billion during the quarter, compared to analysts’ expectations of $33.67 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts anticipate that General Electric Company will post $1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Tuesday, December 27th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from General Electric Company’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, December 22nd. General Electric Company’s payout ratio is 106.67%.
Several institutional investors have recently added to or reduced their stakes in the company. Catamount Wealth Management raised its position in General Electric Company by 34.8% in the second quarter. Catamount Wealth Management now owns 4,651 shares of the company’s stock valued at $146,000 after buying an additional 1,200 shares during the last quarter. Global X Management Co. LLC raised its position in General Electric Company by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares during the last quarter. Turner Investments LLC acquired a new position in General Electric Company during the fourth quarter valued at approximately $161,000. New Harbor Financial Group LLC raised its position in General Electric Company by 46.0% in the third quarter. New Harbor Financial Group LLC now owns 5,828 shares of the company’s stock valued at $172,000 after buying an additional 1,837 shares during the last quarter. Finally, Cable Hill Partners LLC raised its position in General Electric Company by 38.4% in the third quarter. Cable Hill Partners LLC now owns 6,155 shares of the company’s stock valued at $180,000 after buying an additional 1,708 shares during the last quarter. 54.55% of the stock is owned by institutional investors.
About General Electric Company