Insider Buying: General Electric (NYSE:GE) Chairman Purchases 331,684 Shares of Stock

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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.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s payout ratio is currently 6.15%.

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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Insider Buying and Selling by Quarter for General Electric (NYSE:GE)

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