General Electric (NYSE:GE) Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $9.04 per share, for a total transaction of $2,998,423.36. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of GE stock opened at $9.07 on Thursday. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The company’s 50-day moving average is $10.13. The company has a market capitalization of $79.85 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.98 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 0.64 EPS for the current fiscal year.
GE has been the topic of several research reports. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Friday, August 2nd. William Blair restated a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Cowen restated a “hold” rating and set a $8.00 price target on shares of General Electric in a research note on Wednesday, May 1st. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Finally, Deutsche Bank set a $10.00 price target on General Electric and gave the company a “hold” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. General Electric presently has a consensus rating of “Hold” and an average price target of $11.68.
Hedge funds have recently modified their holdings of the stock. Ashburton Jersey Ltd acquired a new stake in General Electric in the second quarter worth about $25,000. Fusion Family Wealth LLC boosted its holdings in General Electric by 10,516.0% in the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 2,629 shares in the last quarter. Employers Holdings Inc. acquired a new stake in General Electric in the second quarter worth about $28,000. Manchester Financial Inc. acquired a new stake in General Electric in the second quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in General Electric in the second quarter worth about $35,000. 57.49% of the stock is currently owned by institutional investors.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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