Investors Sell Shares of General Electric (GE) on Strength on Insider Selling

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Traders sold shares of General Electric (NYSE:GE) on strength during trading on Thursday following insider selling activity. $191.43 million flowed into the stock on the tick-up and $242.68 million flowed out of the stock on the tick-down, for a money net flow of $51.25 million out of the stock. Of all equities tracked, General Electric had the 0th highest net out-flow for the day. General Electric traded up $0.28 for the day and closed at $10.30Specifically, insider Russell Stokes sold 49,904 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.12% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on GE. Deutsche Bank boosted their price objective on shares of General Electric from $8.00 to $11.00 and gave the stock a “positive” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. Cowen restated a “hold” rating and issued a $8.00 price objective on shares of General Electric in a research note on Tuesday, February 26th. Gabelli restated a “buy” rating on shares of General Electric in a research note on Tuesday, February 26th. Bank of America reiterated a “hold” rating and set a $11.00 target price on shares of General Electric in a research note on Thursday, January 31st. Finally, ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $12.44.

The company has a market cap of $84.74 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.33 and a beta of 0.99. The company has a current ratio of 1.81, a quick ratio of 1.43 and a debt-to-equity ratio of 1.85.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The business had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion. General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. As a group, equities research analysts expect that General Electric will post 0.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

Institutional investors have recently made changes to their positions in the business. BCJ Capital Management LLC bought a new stake in shares of General Electric in the 4th quarter worth about $143,000. Arbor Wealth Management LLC bought a new stake in shares of General Electric in the 4th quarter worth about $30,000. American Century Companies Inc. grew its holdings in shares of General Electric by 14.6% in the 4th quarter. American Century Companies Inc. now owns 15,948,463 shares of the conglomerate’s stock worth $120,730,000 after purchasing an additional 2,037,254 shares during the last quarter. Norges Bank bought a new stake in shares of General Electric in the 4th quarter worth about $555,184,000. Finally, Actinver Wealth Management Inc. bought a new stake in shares of General Electric in the 4th quarter worth about $2,253,000. 56.98% of the stock is currently owned by hedge funds and other institutional investors.

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About General Electric (NYSE:GE)

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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