General Electric Company (GE) CEO Purchases $2,657,805.48 in Stock

General Electric Company (NYSE:GE) CEO John Leonard Flannery bought 103,983 shares of the stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

General Electric Company (GE) opened at 25.20 on Friday. The company has a market capitalization of $218.18 billion, a price-to-earnings ratio of 30.69 and a beta of 1.21. General Electric Company has a 52 week low of $25.19 and a 52 week high of $32.38. The firm’s 50-day moving average price is $26.28 and its 200-day moving average price is $28.52.

General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that General Electric Company will post $1.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.

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Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after buying an additional 3,297,890 shares in the last quarter. BlackRock Inc. raised its stake in General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Franklin Resources Inc. raised its stake in General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. Norges Bank acquired a new stake in General Electric during the fourth quarter worth approximately $2,383,193,000. Finally, Trian Fund Management L.P. raised its stake in General Electric by 2.7% in the second quarter. Trian Fund Management L.P. now owns 70,851,055 shares of the conglomerate’s stock worth $1,913,687,000 after buying an additional 1,874,000 shares in the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on GE. Cowen and Company reaffirmed a “hold” rating and set a $30.00 target price on shares of General Electric in a report on Thursday, April 20th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $30.43 target price for the company. in a report on Friday, April 14th. Stifel Nicolaus upped their target price on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Bank of America Corporation lowered General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $31.00 in a report on Tuesday, April 25th. Finally, Argus lowered their target price on General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.08.

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