Traders Buy General Electric Company (GE) on Weakness Following Analyst Downgrade

Traders purchased shares of General Electric Company (NYSE:GE) on weakness during trading hours on Tuesday after Vetr downgraded the stock from a buy rating to a sell rating. $194.51 million flowed into the stock on the tick-up and $170.89 million flowed out of the stock on the tick-down, for a money net flow of $23.62 million into the stock. Of all equities tracked, General Electric had the 28th highest net in-flow for the day. General Electric traded down ($0.26) for the day and closed at $24.20

A number of other analysts have also issued reports on the company. UBS AG reaffirmed a “buy” rating and set a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $33.00 target price on shares of General Electric in a research report on Saturday, July 22nd. Finally, J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $22.00 target price on shares of General Electric in a research report on Thursday, September 7th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus target price of $28.98.

In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the transaction, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Rohr bought 27,425 shares of the stock in a transaction dated Monday, July 24th. The shares were bought at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Insiders have bought 233,253 shares of company stock valued at $5,860,264 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Large investors have recently bought and sold shares of the company. Ullmann Financial Group Inc. bought a new position in shares of General Electric during the first quarter valued at approximately $106,000. MPS Loria Financial Planners LLC bought a new position in shares of General Electric during the second quarter valued at approximately $113,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric during the first quarter valued at approximately $114,000. Ffcm LLC bought a new position in shares of General Electric during the second quarter valued at approximately $114,000. Finally, PHH Investments Ltd. grew its holdings in shares of General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the last quarter. 54.71% of the stock is owned by institutional investors.

The company has a market capitalization of $209.52 billion, a P/E ratio of 29.48 and a beta of 1.22. The company’s 50-day moving average is $24.78 and its 200-day moving average is $27.50. General Electric also saw unusually large options trading activity on Monday. Traders acquired 40,129 call options on the stock. This is an increase of approximately 145% compared to the typical volume of 16,397 call options.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. On average, equities research analysts predict that General Electric Company will post $1.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is 118.52%.

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