General Electric Sees Unusually High Options Volume (NYSE:GE)

General Electric (NYSE:GEGet Rating) was the recipient of some unusual options trading activity on Friday. Investors acquired 24,161 put options on the company. This is an increase of approximately 24% compared to the typical daily volume of 19,477 put options.

Institutional Investors Weigh In On General Electric

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in General Electric by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 84,152,605 shares of the conglomerate’s stock valued at $7,699,963,000 after buying an additional 1,937,915 shares in the last quarter. Capital Research Global Investors grew its holdings in General Electric by 42.9% during the 1st quarter. Capital Research Global Investors now owns 77,124,340 shares of the conglomerate’s stock valued at $7,056,906,000 after buying an additional 23,155,612 shares in the last quarter. FMR LLC grew its holdings in General Electric by 8.4% during the 2nd quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock valued at $4,263,567,000 after buying an additional 5,197,786 shares in the last quarter. State Street Corp boosted its position in shares of General Electric by 0.6% during the 4th quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock valued at $4,112,580,000 after acquiring an additional 255,566 shares during the last quarter. Finally, Dodge & Cox boosted its position in shares of General Electric by 178.6% during the 2nd quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock valued at $1,844,309,000 after acquiring an additional 18,569,368 shares during the last quarter. Hedge funds and other institutional investors own 67.09% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $66.39 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $72.59 and its two-hundred day simple moving average is $77.77. General Electric has a 1-year low of $59.93 and a 1-year high of $116.17. The stock has a market cap of $72.80 billion, a PE ratio of -15.66, a price-to-earnings-growth ratio of 3.60 and a beta of 1.09.

General Electric (NYSE:GEGet Rating) last announced its earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.40. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The firm had revenue of $18.65 billion during the quarter, compared to analyst estimates of $17.90 billion. During the same period last year, the firm posted $0.40 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 2.74 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Tuesday, September 27th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 26th. General Electric’s dividend payout ratio (DPR) is currently -7.55%.

Analyst Ratings Changes

A number of analysts have recently commented on GE shares. Credit Suisse Group cut their price objective on shares of General Electric from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Sanford C. Bernstein assumed coverage on shares of General Electric in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $100.00 target price for the company. UBS Group cut their price objective on shares of General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. The Goldman Sachs Group cut their price objective on shares of General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Finally, Wells Fargo & Company increased their target price on shares of General Electric to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.15.

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 operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment 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.

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