Traders Buy Shares of General Electric Co. (GE) on Weakness

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Traders purchased shares of General Electric Co. (NYSE:GE) on weakness during trading on Friday. $1,033.45 million flowed into the stock on the tick-up and $93.02 million flowed out of the stock on the tick-down, for a money net flow of $940.43 million into the stock. Of all companies tracked, General Electric had the highest net in-flow for the day. General Electric traded down ($0.07) for the day and closed at $29.68
GE has been the topic of a number of research reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a report on Saturday, July 9th. William Blair reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of General Electric in a report on Wednesday, May 25th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $30.93 price objective on the stock. in a report on Tuesday, June 14th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price objective on shares of General Electric in a report on Monday, July 25th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.65.
The firm has a market capitalization of $265.97 billion, a price-to-earnings ratio of 25.09 and a beta of 1.11. The company has a 50 day moving average of $31.00 and a 200-day moving average of $30.84.

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General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. Equities analysts forecast that General Electric Co. will post $1.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was purchased at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the purchase, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
A number of large investors have recently modified their holdings of GE. Catamount Wealth Management raised its stake in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares during the period. Cable Hill Partners LLC raised its stake in shares of General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares during the period. Global X Management Co. LLC raised its stake in shares of General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares during the period. James Investment Research Inc. raised its stake in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares during the period. Finally, Balentine LLC raised its stake in shares of General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock valued at $187,000 after buying an additional 2,277 shares during the period. 55.81% of the stock is owned by hedge funds and other institutional investors.
About General Electric

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