Traders bought shares of General Electric (NYSE:GE) on weakness during trading hours on Monday. $208.71 million flowed into the stock on the tick-up and $134.33 million flowed out of the stock on the tick-down, for a money net flow of $74.38 million into the stock. Of all stocks tracked, General Electric had the 7th highest net in-flow for the day. General Electric traded down ($0.24) for the day and closed at $14.07
GE has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a “sell” rating and set a $16.00 target price (down from $17.00) on shares of General Electric in a research report on Monday, January 8th. Citigroup set a $23.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, February 26th. Morningstar set a $23.50 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Bank of America downgraded shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Monday, January 22nd. Finally, Barclays initiated coverage on shares of General Electric in a research report on Thursday, February 15th. They set an “equal weight” rating and a $16.00 target price on the stock. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.27.
The stock has a market cap of $124,247.67, a PE ratio of -19.54, a PEG ratio of 2.71 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 during the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The company’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 business posted $0.46 earnings per share. research analysts forecast that General Electric will post 0.99 EPS 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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio is currently -66.67%.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in GE. Ffcm LLC bought a new position in shares of General Electric in the second quarter valued at approximately $114,000. MPS Loria Financial Planners LLC bought a new position in shares of General Electric in the second quarter valued at approximately $113,000. Corbenic Partners LLC raised its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares during the last quarter. Ford Financial Group Inc. bought a new position in shares of General Electric in the fourth quarter valued at approximately $108,000. Finally, Bristlecone Advisors LLC bought a new position in shares of General Electric in the third quarter valued at approximately $164,000. 56.28% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Traders Buy General Electric (GE) on Weakness” was originally posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.thelincolnianonline.com/2018/03/19/traders-buy-general-electric-ge-on-weakness.html.
General Electric Company Profile
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.
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.