Investors Sell Shares of General Electric (GE) on Strength (GE)

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Traders sold shares of General Electric (NYSE:GE) on strength during trading on Friday. $119.97 million flowed into the stock on the tick-up and $193.40 million flowed out of the stock on the tick-down, for a money net flow of $73.43 million out of the stock. Of all stocks tracked, General Electric had the 7th highest net out-flow for the day. General Electric traded up $0.15 for the day and closed at $13.93

A number of brokerages have recently commented on GE. JPMorgan Chase & Co. reiterated a “sell” rating and set a $11.00 price target on shares of General Electric in a report on Monday, April 9th. Stifel Nicolaus reiterated a “neutral” rating and set a $15.00 price target on shares of General Electric in a report on Friday, May 18th. Goldman Sachs Group reiterated a “neutral” rating and set a $14.00 price target on shares of General Electric in a report on Tuesday, April 10th. DZ Bank reiterated a “sell” rating on shares of General Electric in a report on Tuesday, April 3rd. Finally, ValuEngine lowered General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given 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 price target of $17.92.

The company has a debt-to-equity ratio of 1.44, a current ratio of 1.76 and a quick ratio of 1.48. The company has a market cap of $118.43 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01.

General Electric (NYSE:GE) last issued its earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The business had revenue of $28.66 billion during the quarter, compared to analyst estimates of $27.26 billion. During the same period in the prior year, the company posted $0.14 earnings per share. General Electric’s revenue was up 6.6% on a year-over-year basis. equities research analysts forecast that General Electric will post 0.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Monday, June 18th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.48 annualized dividend and a yield of 3.45%. General Electric’s dividend payout ratio is currently 45.71%.

In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of the stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total transaction of $58,245,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.12% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. DnB Asset Management AS grew its holdings in shares of General Electric by 1.5% during the fourth quarter. DnB Asset Management AS now owns 1,178,458 shares of the conglomerate’s stock worth $20,564,000 after purchasing an additional 17,500 shares during the last quarter. AXA grew its holdings in shares of General Electric by 1.8% during the third quarter. AXA now owns 3,619,289 shares of the conglomerate’s stock worth $87,515,000 after purchasing an additional 62,716 shares during the last quarter. White Lighthouse Investment Management Inc. bought a new stake in shares of General Electric during the fourth quarter worth $301,000. Icon Advisers Inc. Co. grew its holdings in shares of General Electric by 72.0% during the third quarter. Icon Advisers Inc. Co. now owns 104,900 shares of the conglomerate’s stock worth $2,536,000 after purchasing an additional 43,900 shares during the last quarter. Finally, Hikari Power Ltd bought a new stake in shares of General Electric during the fourth quarter worth $1,312,000. Hedge funds and other institutional investors own 54.00% of the company’s stock.

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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