General Electric (GE) Short Interest Update
General Electric (NYSE:GE) was the recipient of a significant drop in short interest in December. As of December 29th, there was short interest totalling 112,836,951 shares, a drop of 6.1% from the December 15th total of 120,142,785 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 62,396,842 shares, the short-interest ratio is currently 1.8 days.
Shares of General Electric (GE) opened at $16.26 on Monday. The firm has a market cap of $141,010.00, a price-to-earnings ratio of 18.91, a PEG ratio of 2.98 and a beta of 1.07. General Electric has a 52 week low of $16.02 and a 52 week high of $30.90. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. research analysts forecast that General Electric will post 1.05 EPS for the current fiscal year.
In related news, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, with a total value of $100,320.00. Following the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 120,500 shares of company stock worth $2,183,220. Insiders own 0.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Ffcm LLC acquired a new stake in shares of General Electric in the second quarter valued at about $114,000. MPS Loria Financial Planners LLC purchased a new position in shares of General Electric in the second quarter worth about $113,000. Corbenic Partners LLC lifted its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in shares of General Electric in the third quarter worth about $164,000. Finally, Tuttle Tactical Management LLC purchased a new position in shares of General Electric in the second quarter worth about $209,000. Institutional investors own 55.64% of the company’s stock.
A number of research analysts have issued reports on the stock. Vertical Research set a $18.00 price target on shares of General Electric and gave the stock a “hold” rating in a report on Tuesday, January 16th. Deutsche Bank reaffirmed a “sell” rating and issued a $15.00 price target on shares of General Electric in a report on Wednesday, January 17th. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a price target on shares of General Electric in a report on Monday, January 15th. Vetr raised shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $22.05 price target for the company in a report on Monday, January 15th. Finally, Tigress Financial reaffirmed a “hold” rating on shares of General Electric in a report on Thursday, December 28th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.94.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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