Michael J. Holston Sells 13,601 Shares of General Electric (NYSE:GE) Stock

General Electric (NYSE:GEGet Free Report) SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a filing with the SEC, which is accessible through this link.

General Electric Stock Down 0.1 %

General Electric stock opened at $137.58 on Wednesday. The company has a market capitalization of $149.74 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.11 and a beta of 1.25. The firm’s fifty day simple moving average is $127.06 and its 200-day simple moving average is $117.91. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. General Electric has a 1-year low of $80.40 and a 1-year high of $138.64.

General Electric (NYSE:GEGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. Sell-side analysts forecast that General Electric will post 4.51 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Thursday, December 28th were issued a $0.08 dividend. The ex-dividend date was Wednesday, December 27th. This represents a $0.32 annualized dividend and a yield of 0.23%. General Electric’s dividend payout ratio (DPR) is presently 3.82%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Halpern Financial Inc. increased its holdings in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the period. Steward Financial Group LLC bought a new position in shares of General Electric during the 2nd quarter worth about $26,000. Criterion Capital Advisors LLC bought a new position in shares of General Electric during the 4th quarter worth about $27,000. CGC Financial Services LLC increased its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the period. Finally, Capital Analysts LLC increased its holdings in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Institutional investors own 74.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays upped their price target on shares of General Electric from $144.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. StockNews.com upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, February 1st. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada cut their target price on shares of General Electric from $150.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Finally, Citigroup increased their target price on shares of General Electric from $135.00 to $148.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

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About General Electric

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

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