Investors sold shares of General Electric (NYSE:GE) on strength during trading hours on Monday. $133.74 million flowed into the stock on the tick-up and $227.12 million flowed out of the stock on the tick-down, for a money net flow of $93.38 million out of the stock. Of all equities tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.20 for the day and closed at $15.05
A number of research analysts recently commented on GE shares. Bank of America reaffirmed a “buy” rating and issued a $23.00 price target (down previously from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Morningstar reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Citigroup set a $25.00 price target on General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a research note on Wednesday, January 10th. Finally, TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.86.
The stock has a market cap of $127,830.00, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. analysts expect that General Electric will post 0.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is currently 44.44%.
In other news, insider Alexander Dimitrief purchased 2,689 shares of General Electric stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the acquisition, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.36% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after acquiring an additional 3,297,890 shares during the last quarter. BlackRock Inc. boosted its holdings in General Electric by 1.5% in the fourth quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after acquiring an additional 7,675,642 shares during the last quarter. Franklin Resources Inc. boosted its holdings in General Electric by 64.6% in the fourth quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock valued at $3,222,649,000 after acquiring an additional 72,489,551 shares during the last quarter. Capital World Investors boosted its holdings in General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after acquiring an additional 11,194,678 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares during the last quarter. Institutional investors own 55.17% of the company’s stock.
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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.
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