General Electric (NYSE:GE) Director Buys $498,336.96 in Stock

General Electric (NYSE:GE) Director Thomas W. Horton acquired 55,248 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $9.02 per share, with a total value of $498,336.96. Following the transaction, the director now directly owns 55,248 shares of the company’s stock, valued at approximately $498,336.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

GE opened at $8.01 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73. General Electric has a 52-week low of $6.66 and a 52-week high of $13.78. The stock has a market capitalization of $81.60 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 2.02 and a beta of 1.03. The stock’s 50 day moving average price is $10.08 and its 200-day moving average price is $9.97.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. Research analysts forecast that General Electric will post 0.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.50%. General Electric’s payout ratio is 6.15%.

A number of hedge funds have recently modified their holdings of the stock. Landmark Financial Advisors LLC increased its stake in shares of General Electric by 11.3% during the 4th quarter. Landmark Financial Advisors LLC now owns 16,702 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 1,699 shares during the last quarter. Honeywell International Inc. acquired a new position in shares of General Electric during the 4th quarter worth $3,799,000. Garrison Financial Corp increased its stake in shares of General Electric by 75.9% during the 4th quarter. Garrison Financial Corp now owns 102,557 shares of the conglomerate’s stock worth $3,038,000 after purchasing an additional 44,240 shares during the last quarter. Allen Investment Management LLC increased its stake in shares of General Electric by 50.4% during the 4th quarter. Allen Investment Management LLC now owns 832,696 shares of the conglomerate’s stock worth $6,304,000 after purchasing an additional 278,936 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of General Electric by 1,719.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,319,274 shares of the conglomerate’s stock worth $2,288,000 after purchasing an additional 16,367,170 shares during the last quarter. 57.49% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the company. ValuEngine downgraded General Electric from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $11.50 in a research report on Monday, July 15th. William Blair reissued a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Deutsche Bank set a $10.00 target price on General Electric and gave the company a “hold” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.68.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Insider Buying and Selling by Quarter for General Electric (NYSE:GE)

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