Insider Buying: General Electric Company (GE) Director Purchases 5,500 Shares of Stock

General Electric Company (NYSE:GE) Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the director now owns 5,500 shares in the company, valued at approximately $100,320. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of General Electric Company (GE) opened at $17.88 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $155,056.88, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. General Electric Company has a twelve month low of $17.46 and a twelve month high of $32.38.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. General Electric’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. equities research analysts predict that General Electric Company will post 1.07 EPS for the current year.

A number of research firms have recently issued reports on GE. Morgan Stanley downgraded General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target on the stock. in a research note on Monday, October 23rd. Stifel Nicolaus downgraded General Electric from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 24th. J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a research note on Thursday, September 21st. Vetr raised General Electric from a “sell” rating to a “hold” rating and set a $21.74 target price on the stock in a report on Monday, October 23rd. Finally, Goldman Sachs Group set a $19.00 target price on General Electric and gave the stock a “neutral” rating in a report on Thursday. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.31.

Several hedge funds have recently modified their holdings of the company. Peak Financial Management Inc. increased its holdings in shares of General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after purchasing an additional 25 shares during the last quarter. BerganKDV Wealth Management LLC grew its position in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after acquiring an additional 36 shares in the last quarter. Puplava Financial Services Inc. grew its position in General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after acquiring an additional 41 shares in the last quarter. Cutter & CO Brokerage Inc. grew its position in General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after acquiring an additional 67 shares in the last quarter. Finally, Northwest Wealth Management LLC grew its position in General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 75 shares in the last quarter. 55.74% of the stock is currently owned by hedge funds and other institutional investors.

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