Insider Buying: General Electric (NYSE:GE) Insider Buys 105,600 Shares of Stock

General Electric (NYSE:GE) insider L Kevin Cox purchased 105,600 shares of General Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $9.42 per share, with a total value of $994,752.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE GE opened at $9.35 on Wednesday. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44. The business has a 50 day simple moving average of $10.16. The stock has a market cap of $79.85 billion, a P/E ratio of 14.38, a PEG ratio of 1.98 and a beta of 1.03.

General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The business had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. General Electric’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts expect that General Electric will post 0.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.43%. General Electric’s payout ratio is 6.15%.

A number of brokerages have recently weighed in on GE. 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. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Friday, August 2nd. Deutsche Bank set a $10.00 price objective on General Electric and gave the stock a “hold” rating in a research note on Thursday, May 2nd. William Blair reaffirmed a “buy” rating on shares of General Electric in a report on Thursday, June 13th. Finally, Cowen reaffirmed a “hold” rating and issued a $8.00 target price on shares of General Electric in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.68.

A number of institutional investors have recently bought and sold shares of the stock. Ashburton Jersey Ltd bought a new position in General Electric in the second quarter valued at $25,000. Employers Holdings Inc. bought a new position in General Electric in the second quarter worth about $28,000. Fusion Family Wealth LLC increased its stake in shares of General Electric by 10,516.0% during the second 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 bought a new stake in shares of General Electric during the fourth quarter valued at approximately $30,000. Finally, Manchester Financial Inc. bought a new stake in shares of General Electric during the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 57.49% of the company’s stock.

About General Electric

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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