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.
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.
Featured Article: What are the benefits of investing in REITs?
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.