Insider Buying: General Electric Company (GE) Director Purchases 55,000 Shares of Stock

General Electric Company (NYSE:GE) Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

General Electric Company (GE) traded down $0.10 during mid-day trading on Wednesday, hitting $17.66. 43,890,484 shares of the stock were exchanged, compared to its average volume of 45,110,422. General Electric Company has a 52 week low of $17.46 and a 52 week high of $32.38. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The firm has a market cap of $152,850.00, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period last year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts expect that General Electric Company will post 1.07 earnings per share for the current year.

A number of research firms recently issued reports on GE. Vetr lowered General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target on the stock. in a report on Monday, September 25th. Goldman Sachs Group set a $19.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research report on Thursday, November 30th. Cowen restated a “hold” rating and issued a $19.00 price objective on shares of General Electric in a research report on Wednesday, November 8th. Deutsche Bank set a $21.00 price objective on shares of General Electric and gave the company a “sell” rating in a research report on Monday, October 23rd. Finally, J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a research report on Thursday, September 21st. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.31.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares during the period. BlackRock Inc. grew its stake in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares during the period. Capital World Investors grew its stake in General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares during the period. Capital Research Global Investors grew its stake in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. grew its stake in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares during the period. 55.74% of the stock is owned by institutional investors and hedge funds.

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