Investors Buy General Electric (GE) on Weakness

Investors purchased shares of General Electric (NYSE:GE) on weakness during trading hours on Friday. $131.74 million flowed into the stock on the tick-up and $124.93 million flowed out of the stock on the tick-down, for a money net flow of $6.81 million into the stock. Of all companies tracked, General Electric had the 29th highest net in-flow for the day. General Electric traded down ($0.20) for the day and closed at $13.48

A number of brokerages recently issued reports on GE. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a report on Wednesday, January 10th. JPMorgan Chase reaffirmed a “sell” rating and set a target price on shares of General Electric in a research note on Monday, January 15th. Deutsche Bank reaffirmed a “sell” rating and set a $15.00 target price on shares of General Electric in a research note on Wednesday, January 17th. Vertical Research set a $18.00 target price on shares of General Electric and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research note on Monday, December 11th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.27.

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The stock has a market capitalization of $117,041.13, a PE ratio of 12.84, a PEG ratio of 2.56 and a beta of 1.00. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. research analysts anticipate that General Electric will post 0.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.56%. General Electric’s dividend payout ratio is presently 45.71%.

In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of General Electric stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.12% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Beach Investment Management LLC. acquired a new stake in General Electric in the second quarter valued at approximately $5,487,000. Comprehensive Portfolio Management LLC acquired a new stake in General Electric in the second quarter valued at approximately $932,000. Hourglass Capital LLC raised its holdings in General Electric by 10.4% in the second quarter. Hourglass Capital LLC now owns 266,112 shares of the conglomerate’s stock valued at $7,188,000 after acquiring an additional 25,020 shares in the last quarter. Private Vista LLC acquired a new stake in General Electric in the second quarter valued at approximately $368,000. Finally, Sicart Associates LLC raised its holdings in General Electric by 5.6% in the second quarter. Sicart Associates LLC now owns 37,800 shares of the conglomerate’s stock valued at $1,021,000 after acquiring an additional 2,000 shares in the last quarter. 56.30% of the stock is currently owned by institutional investors and hedge funds.

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About General Electric

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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