General Electric (NYSE:GE) Sees Significant Decrease in Short Interest

General Electric (NYSE:GE) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 11,240,000 shares, a decline of 7.3% from the November 15th total of 12,130,000 shares. Based on an average daily volume of 4,630,000 shares, the short-interest ratio is presently 2.4 days. Approximately 1.0% of the shares of the stock are sold short.

General Electric Trading Up 0.0 %

General Electric stock opened at $165.83 on Wednesday. The business has a 50 day moving average price of $179.47 and a two-hundred day moving average price of $172.52. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $98.48 and a 12 month high of $194.80. The stock has a market cap of $179.47 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.68%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tsfg LLC increased its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares in the last quarter. Macroview Investment Management LLC grew its holdings in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Strategic Advisors LLC increased its position in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD grew its stake in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $201.93.

About General Electric

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.