Investors sold shares of General Electric (NYSE:GE) on strength during trading on Monday. $353.75 million flowed into the stock on the tick-up and $415.01 million flowed out of the stock on the tick-down, for a money net flow of $61.26 million out of the stock. Of all companies tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.16 for the day and closed at $14.65
A number of equities research analysts have recently commented on GE shares. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $16.00 target price (down from $17.00) on shares of General Electric in a research report on Monday, January 8th. Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Citigroup reduced their target price on shares of General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Morningstar set a $23.50 target price on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Bank of America cut shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research report on Monday, January 22nd. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. General Electric has an average rating of “Hold” and a consensus target price of $18.50.
The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.53 and a current ratio of 1.87. The firm has a market capitalization of $124,490.00, a price-to-earnings ratio of -47.68, a PEG ratio of 2.78 and a beta of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently -160.00%.
In related news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction on Monday, January 29th. The stock was bought at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Ffcm LLC purchased a new position in shares of General Electric in the second quarter valued at approximately $114,000. MPS Loria Financial Planners LLC purchased a new position in shares of General Electric in the second quarter valued at approximately $113,000. Corbenic Partners LLC boosted its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Ford Financial Group Inc. purchased a new position in shares of General Electric in the fourth quarter valued at approximately $108,000. Finally, Bristlecone Advisors LLC purchased a new position in shares of General Electric in the third quarter valued at approximately $164,000. 55.17% of the stock is owned by institutional investors.
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General Electric Company Profile
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.
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