Investors bought shares of General Electric Co. (NYSE:GE) on weakness during trading on Tuesday after Citigroup lowered their price target on the stock from $36.00 to $35.00. $138.95 million flowed into the stock on the tick-up and $113.85 million flowed out of the stock on the tick-down, for a money net flow of $25.10 million into the stock. Of all stocks tracked, General Electric had the 10th highest net in-flow for the day. General Electric traded down ($0.22) for the day and closed at $28.86
A number of other equities research analysts have also recently issued reports on GE. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 price target for the company. in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.93.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Patten & Patten Inc. TN increased its position in General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock worth $20,170,000 after buying an additional 9,512 shares during the last quarter. Baxter Bros Inc. acquired a new position in General Electric during the second quarter worth about $11,436,000. Howland Capital Management LLC increased its position in General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock worth $39,526,000 after buying an additional 89,178 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd increased its position in General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock worth $9,138,000 after buying an additional 3,405 shares during the last quarter. Finally, Cacti Asset Management LLC increased its position in General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock worth $3,070,000 after buying an additional 1,175 shares during the last quarter. 55.81% of the stock is currently owned by institutional investors.
The firm has a market cap of $259.16 billion, a P/E ratio of 24.45 and a beta of 1.15. The stock has a 50-day moving average price of $30.25 and a 200-day moving average price of $30.75.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. On average, analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. General Electric’s dividend payout ratio is presently 77.97%.
General Electric Company Profile
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