General Electric (NYSE:GE) Sees Large Increase in Short Interest

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

General Electric Trading Up 2.6 %

GE traded up $5.12 during trading on Monday, reaching $202.23. 3,732,215 shares of the company’s stock were exchanged, compared to its average volume of 5,397,960. The company’s fifty day moving average price is $196.14 and its 200-day moving average price is $184.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $212.19. The firm has a market capitalization of $217.06 billion, a PE ratio of 33.76, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric’s dividend payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Citigroup lifted their target price on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

Hedge Funds Weigh In On General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Johnson & White Wealth Management LLC acquired a new position in General Electric in the 4th quarter worth $733,000. Chung Wu Investment Group LLC bought a new stake in General Electric during the 4th quarter worth about $795,000. State Street Corp lifted its position in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in General Electric by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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.