Investors Buy Shares of General Electric Company (GE) on Weakness

Investors bought shares of General Electric Company (NYSE:GE) on weakness during trading on Wednesday. $395.11 million flowed into the stock on the tick-up and $336.99 million flowed out of the stock on the tick-down, for a money net flow of $58.12 million into the stock. Of all stocks tracked, General Electric had the 10th highest net in-flow for the day. General Electric traded down ($0.29) for the day and closed at $23.07

Several research firms have recently weighed in on GE. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of General Electric in a research note on Thursday. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 target price (down from $27.00) on shares of General Electric in a research note on Monday, July 24th. BidaskClub downgraded shares of General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.16.

The firm has a 50 day moving average of $24.29 and a 200 day moving average of $26.82. The company has a market capitalization of $199.57 billion, a price-to-earnings ratio of 28.08 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Analysts expect that General Electric Company will post $1.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.16%. General Electric’s payout ratio is 118.52%.

In other news, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 233,253 shares of company stock valued at $5,860,264. Insiders own 0.36% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GE. Ullmann Financial Group Inc. bought a new position in shares of General Electric in the 1st quarter valued at $106,000. MPS Loria Financial Planners LLC bought a new position in shares of General Electric in the 2nd quarter valued at $113,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric in the 1st quarter valued at $114,000. Ffcm LLC bought a new position in shares of General Electric in the 2nd quarter valued at $114,000. Finally, PHH Investments Ltd. increased its stake in shares of General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 54.69% of the company’s stock.

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