Investors Buy General Electric Company (GE) on Weakness After Analyst Downgrade

Investors purchased shares of General Electric Company (NYSE:GE) on weakness during trading on Tuesday after Bank of America Corporation lowered their price target on the stock from $27.00 to $23.00. $1,299.62 million flowed into the stock on the tick-up and $1,159.69 million flowed out of the stock on the tick-down, for a money net flow of $139.93 million into the stock. Of all stocks tracked, General Electric had the 2nd highest net in-flow for the day. General Electric traded down ($1.12) for the day and closed at $17.90

Other research analysts have also issued research reports about the stock. Citigroup Inc. restated a “buy” rating on shares of General Electric in a research report on Tuesday. Royal Bank Of Canada lowered shares of General Electric from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $25.00 to $20.00 in a research report on Tuesday. Goldman Sachs Group, Inc. (The) set a $22.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a research note on Tuesday. Stifel Nicolaus set a $22.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Morningstar, Inc. reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.02.

In related news, Director James S. Tisch acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Peak Financial Management Inc. boosted its position in shares of General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after acquiring an additional 25 shares in the last quarter. BerganKDV Wealth Management LLC boosted its position in shares of General Electric by 0.3% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after acquiring an additional 36 shares in the last quarter. Puplava Financial Services Inc. boosted its position in shares of General Electric by 0.4% during the 2nd quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after acquiring an additional 41 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its position in shares of General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after acquiring an additional 67 shares in the last quarter. Finally, Northwest Wealth Management LLC boosted its position in shares of General Electric by 0.8% during the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 54.29% of the company’s stock.

The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The company has a market cap of $164,943.92, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the firm posted $0.32 earnings per share. General Electric’s revenue was up 11.5% on a year-over-year basis. equities analysts expect that General Electric Company will post 1.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were given a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 5.36%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.

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