General Electric (NYSE:GE) Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The purchase was disclosed in a document filed with the SEC, which is available at this link.
GE opened at $8.01 on Friday. The stock’s 50-day moving average price is $10.08 and its 200 day moving average price is $9.97. General Electric has a 12-month low of $6.66 and a 12-month high of $13.78. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. The firm has a market cap of $78.98 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.96 and a beta of 1.03.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The company had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. General Electric’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. On average, research analysts forecast that General Electric will post 0.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio is currently 6.15%.
A number of hedge funds have recently bought and sold shares of GE. Ashburton Jersey Ltd acquired a new stake in General Electric in the 2nd quarter valued at about $25,000. Employers Holdings Inc. acquired a new stake in General Electric in the 2nd quarter valued at about $28,000. Fusion Family Wealth LLC raised its position in General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 2,629 shares in the last quarter. Arbor Wealth Management LLC acquired a new stake in General Electric in the 4th quarter valued at about $30,000. Finally, Manchester Financial Inc. purchased a new position in shares of General Electric in the 2nd quarter valued at about $30,000. 57.49% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Friday, August 2nd. William Blair reissued a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Citigroup set a $14.00 target price on General Electric and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Cowen reissued a “hold” rating and set a $8.00 target price on shares of General Electric in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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