Investors Buy Shares of General Electric (GE) on Weakness

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.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. As a group, research analysts expect that General Electric will post 0.68 earnings per share for the current fiscal year.

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.

ILLEGAL ACTIVITY NOTICE: “Investors Buy Shares of General Electric (GE) on Weakness” was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://sportsperspectives.com/2018/11/08/investors-buy-shares-of-general-electric-ge-on-weakness.html.

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.

Further Reading: What is an Initial Public Offering (IPO)?

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply