General Electric (NYSE:GE) Short Interest Update

General Electric (NYSE:GEGet Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 11,120,000 shares, an increase of 6.6% from the April 30th total of 10,430,000 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 7,450,000 shares, the days-to-cover ratio is presently 1.5 days.

General Electric Stock Down 3.4 %

GE stock traded down $5.61 during midday trading on Monday, reaching $159.53. 2,313,771 shares of the company’s stock traded hands, compared to its average volume of 7,510,421. The company has a market cap of $174.62 billion, a price-to-earnings ratio of 52.82, a P/E/G ratio of 1.82 and a beta of 1.23. The firm’s fifty day moving average price is $161.56 and its 200-day moving average price is $145.80. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 52 week low of $82.11 and a 52 week high of $170.80.

General Electric (NYSE:GEGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, sell-side analysts forecast that General Electric will post 3.98 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. General Electric’s payout ratio is currently 36.72%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently bought and sold shares of GE. Choate Investment Advisors raised its holdings in General Electric by 0.4% in the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after purchasing an additional 65 shares in the last quarter. Walker Asset Management LLC raised its holdings in General Electric by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares in the last quarter. Global Financial Private Client LLC raised its holdings in General Electric by 3.8% in the first quarter. Global Financial Private Client LLC now owns 1,956 shares of the conglomerate’s stock worth $343,000 after purchasing an additional 71 shares in the last quarter. BKM Wealth Management LLC raised its holdings in General Electric by 2.6% in the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after purchasing an additional 72 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in General Electric by 1.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock worth $663,000 after purchasing an additional 72 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Bank of America lifted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group lifted their target price on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, UBS Group lifted their target price on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Read Our Latest Research Report on General Electric

General Electric Company Profile

(Get Free Report)

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

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