Short Interest in General Electric (NYSE:GE) Rises By 36.3%

by · The Cerbat Gem

General Electric (NYSE:GE – Get Free Report) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 15,670,000 shares, a growth of 36.3% from the February 13th total of 11,500,000 shares. Based on an average daily trading volume, of 5,440,000 shares, the short-interest ratio is presently 2.9 days. Currently, 1.5% of the company’s stock are sold short.

General Electric Price Performance

NYSE:GE traded down $2.27 during trading hours on Tuesday, reaching $199.76. 907,186 shares of the company were exchanged, compared to its average volume of 5,184,209. The company has a market capitalization of $214.40 billion, a P/E ratio of 33.35, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a 50 day moving average of $196.14 and a 200 day moving average of $184.20.

General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Ratings Changes

Several analysts recently issued reports on GE shares. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic started coverage on General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.31.

View Our Latest Analysis on General Electric

Institutional Investors Weigh In On General Electric

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of General Electric by 6.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 581,337 shares of the conglomerate’s stock valued at $96,961,000 after purchasing an additional 34,994 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of General Electric by 12.6% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,352 shares of the conglomerate’s stock valued at $392,000 after purchasing an additional 263 shares in the last quarter. Tableaux LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $1,004,000. Centaurus Financial Inc. boosted its holdings in shares of General Electric by 24.1% in the 4th quarter. Centaurus Financial Inc. now owns 10,836 shares of the conglomerate’s stock valued at $1,807,000 after purchasing an additional 2,102 shares in the last quarter. Finally, Lighthouse Financial LLC acquired a new stake in shares of General Electric during the 4th quarter valued at $1,458,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

About General Electric

(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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