Traders Sell Shares of General Electric Company (GE) on Strength on Analyst Downgrade

Traders sold shares of General Electric Company (NYSE:GE) on strength during trading hours on Tuesday after Stifel Nicolaus lowered their price target on the stock from $33.00 to $28.00. $224.97 million flowed into the stock on the tick-up and $270.01 million flowed out of the stock on the tick-down, for a money net flow of $45.04 million out of the stock. Of all stocks tracked, General Electric had the 27th highest net out-flow for the day. General Electric traded up $0.01 for the day and closed at $25.44

A number of other equities analysts have also recently issued reports on GE. Cowen and Company restated a “hold” rating and issued a $27.00 target price on shares of General Electric in a report on Monday, July 17th. Goldman Sachs Group, Inc. (The) set a $27.00 target price on General Electric and gave the stock a “neutral” rating in a report on Monday. J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the stock a “sell” rating in a report on Monday. William Blair restated a “buy” rating on shares of General Electric in a report on Saturday, April 1st. Finally, Citigroup Inc. restated a “buy” rating and issued a $31.00 target price (down from $34.00) on shares of General Electric in a report on Monday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.25.

In related news, Chairman Jeffrey R. Immelt purchased 100,000 shares of General Electric stock in a transaction on Monday, May 15th. The stock was bought at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the transaction, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at $71,913,262.82. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William G. Beattie purchased 4,000 shares of General Electric stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $27.70 per share, with a total value of $110,800.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 120,000 shares of company stock valued at $3,366,600. Insiders own 0.36% of the company’s stock.

Several hedge funds have recently made changes to their positions in GE. Ullmann Financial Group Inc. bought a new stake in shares of General Electric during the first quarter worth $106,000. Feltz Wealth PLAN Inc. bought a new stake in shares of General Electric during the first quarter worth $114,000. PHH Investments Ltd. boosted its stake in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Empirical Finance LLC bought a new stake in shares of General Electric during the fourth quarter worth $140,000. Finally, Northwest Quadrant Wealth Management LLC bought a new stake in shares of General Electric during the fourth quarter worth $177,000. 54.25% of the stock is owned by institutional investors.

The company has a market capitalization of $220.59 billion, a P/E ratio of 30.99 and a beta of 1.22. The firm has a 50 day moving average price of $27.35 and a 200 day moving average price of $29.04. General Electric also was the recipient of unusually large options trading on Monday. Stock traders purchased 68,897 call options on the company. This represents an increase of approximately 116% compared to the typical volume of 31,959 call options.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.60%. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the prior year, the business posted $0.51 EPS. The company’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts expect that General Electric Company will post $1.60 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.77%. General Electric’s dividend payout ratio is 118.52%.

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