Investors Buy Shares of General Electric (GE) on Weakness

Traders bought shares of General Electric (NYSE:GE) on weakness during trading hours on Tuesday. $840.35 million flowed into the stock on the tick-up and $535.75 million flowed out of the stock on the tick-down, for a money net flow of $304.60 million into the stock. Of all companies tracked, General Electric had the 2nd highest net in-flow for the day. General Electric traded down ($0.55) for the day and closed at $18.21

GE has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective on shares of General Electric in a research report on Thursday, October 12th. JPMorgan Chase & Co. lowered their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, November 1st. Vertical Research set a $18.00 price objective on General Electric and gave the company a “hold” rating in a research report on Tuesday. Vetr raised General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price objective for the company in a research report on Tuesday, October 10th. Finally, Citigroup set a $25.00 price target on General Electric and gave the company a “buy” rating in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and an average price target of $22.94.

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 stock has a market capitalization of $150,460.00, a PE ratio of 20.17, a PEG ratio of 2.05 and a beta of 1.07.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period last year, the firm posted $0.32 EPS. General Electric’s revenue was up 11.5% on a year-over-year basis. analysts predict that General Electric will post 1.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 55.81%.

In related news, Director Steven M. Mollenkopf bought 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Francisco Dsouza bought 55,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock valued at $2,183,220 in the last ninety days. Company insiders own 0.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Westpac Banking Corp raised its stake in General Electric by 18.6% during the fourth quarter. Westpac Banking Corp now owns 1,030,155 shares of the conglomerate’s stock valued at $17,976,000 after buying an additional 161,579 shares in the last quarter. Berkshire Asset Management LLC PA raised its stake in General Electric by 5.1% during the fourth quarter. Berkshire Asset Management LLC PA now owns 1,007,490 shares of the conglomerate’s stock valued at $17,581,000 after buying an additional 48,957 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in General Electric by 6.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 31,696,646 shares of the conglomerate’s stock valued at $553,107,000 after buying an additional 1,835,853 shares in the last quarter. Capital Investment Advisors LLC raised its stake in General Electric by 5.8% during the fourth quarter. Capital Investment Advisors LLC now owns 274,477 shares of the conglomerate’s stock valued at $4,790,000 after buying an additional 15,137 shares in the last quarter. Finally, Thompson Rubinstein Investment Management Inc. OR raised its stake in General Electric by 11.5% during the fourth quarter. Thompson Rubinstein Investment Management Inc. OR now owns 86,200 shares of the conglomerate’s stock valued at $1,504,000 after buying an additional 8,898 shares in the last quarter. Institutional investors and hedge funds own 55.64% of the company’s stock.

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About General Electric

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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