Investors purchased shares of General Electric (NYSE:GE) on weakness during trading hours on Thursday. $184.34 million flowed into the stock on the tick-up and $150.88 million flowed out of the stock on the tick-down, for a money net flow of $33.46 million into the stock. Of all companies tracked, General Electric had the 25th highest net in-flow for the day. General Electric traded down ($0.10) for the day and closed at $9.10
A number of research analysts have issued reports on GE shares. Royal Bank of Canada set a $15.00 price target on shares of General Electric and gave the stock a “neutral” rating in a report on Wednesday, July 11th. MED raised shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a report on Thursday, July 12th. Deutsche Bank set a $15.00 price target on shares of General Electric and gave the stock a “hold” rating in a report on Thursday, July 12th. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $11.00 price target on shares of General Electric in a report on Monday, July 16th. Finally, Gabelli reaffirmed a “buy” rating on shares of General Electric in a report on Wednesday, July 18th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $14.94.
The company has a market capitalization of $81.79 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.95. The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.03.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were paid a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.27%. General Electric’s payout ratio is currently 45.71%.
In other news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $9.73 per share, for a total transaction of $2,189,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alexander Dimitrief purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average price of $9.48 per share, for a total transaction of $94,800.00. Following the transaction, the senior vice president now owns 103,075 shares of the company’s stock, valued at approximately $977,151. The disclosure for this purchase can be found here. 1.12% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in GE. Fusion Family Wealth LLC grew its position in shares of General Electric by 153.3% in the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after purchasing an additional 5,002 shares during the period. Psagot Investment House Ltd. grew its position in shares of General Electric by 2,862.2% in the third quarter. Psagot Investment House Ltd. now owns 10,190 shares of the conglomerate’s stock valued at $115,000 after purchasing an additional 9,846 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of General Electric in the first quarter valued at about $116,000. Beech Hill Advisors Inc. acquired a new stake in shares of General Electric in the third quarter valued at about $119,000. Finally, Archford Capital Strategies LLC acquired a new stake in shares of General Electric in the first quarter valued at about $121,000. Institutional investors own 53.81% of the company’s stock.
General Electric Company Profile (NYSE:GE)
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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