General Electric Company (NYSE:GE) Director James S. Tisch purchased 100,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of General Electric Company (GE) opened at 24.30 on Friday. The company’s 50-day moving average is $25.67 and its 200 day moving average is $28.19. The stock has a market cap of $210.39 billion, a P/E ratio of 29.60 and a beta of 1.21. General Electric Company has a 1-year low of $24.30 and a 1-year high of $32.38.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. Equities research analysts anticipate that General Electric Company will post $1.57 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Ullmann Financial Group Inc. bought a new position in General Electric during the first quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new position in General Electric during the first quarter worth approximately $114,000. PHH Investments Ltd. boosted its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the period. Ffcm LLC bought a new position in General Electric during the second quarter worth approximately $114,000. Finally, Corbenic Partners LLC boosted its position in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares during the period. 54.31% of the stock is owned by institutional investors and hedge funds.
GE has been the topic of several research reports. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.43 price target on the stock in a research report on Thursday, April 27th. Deutsche Bank AG lowered shares of General Electric from a “hold” rating to a “sell” rating and lowered their price target for the company from $28.00 to $24.00 in a research report on Friday, May 12th. TheStreet lowered shares of General Electric from a “b-” rating to a “c” rating in a research report on Friday, May 19th. Credit Suisse Group lowered their price target on shares of General Electric from $33.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 1st. They noted that the move was a valuation call. Finally, Cowen and Company restated a “market perform” rating and set a $30.00 target price on shares of General Electric in a research report on Tuesday, June 13th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.08.
About General Electric
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