Insider Buying: General Electric (NYSE:GE) Insider Acquires 34,836 Shares of Stock

General Electric (NYSE:GE) insider Scott Strazik acquired 34,836 shares of General Electric stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $8.01 per share, with a total value of $279,036.36. Following the completion of the transaction, the insider now directly owns 40,273 shares of the company’s stock, valued at approximately $322,586.73. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE GE opened at $8.79 on Friday. The stock has a market cap of $78.81 billion, a PE ratio of 13.52, a PEG ratio of 1.95 and a beta of 1.03. The business has a fifty day moving average of $10.05 and a two-hundred day moving average of $9.97. General Electric has a 52-week low of $6.66 and a 52-week high of $13.78. 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 (NYSE:GE) last issued its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion during 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 business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Analysts predict that General Electric will post 0.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.46%. General Electric’s payout ratio is presently 6.15%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Guardian Investment Management lifted its holdings in shares of General Electric by 29.9% in the 4th quarter. Guardian Investment Management now owns 183,025 shares of the conglomerate’s stock worth $1,385,000 after acquiring an additional 42,100 shares during the last quarter. Congress Park Capital LLC lifted its holdings in shares of General Electric by 35.5% in the 4th quarter. Congress Park Capital LLC now owns 24,818 shares of the conglomerate’s stock worth $188,000 after acquiring an additional 6,500 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in shares of General Electric by 0.5% in the 4th quarter. Cigna Investments Inc. New now owns 254,223 shares of the conglomerate’s stock worth $1,924,000 after acquiring an additional 1,209 shares during the last quarter. River Road Asset Management LLC acquired a new position in shares of General Electric in the 4th quarter worth approximately $139,000. Finally, Lau Associates LLC acquired a new position in shares of General Electric in the 4th quarter worth approximately $86,000. 57.49% of the stock is owned by institutional investors.

GE has been the subject of several research reports. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a research report on Wednesday, July 31st. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Thursday, June 13th. ValuEngine cut General Electric from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group cut General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Finally, Cowen reaffirmed a “hold” rating and issued a $8.00 target price on shares of General Electric in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price 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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