General Electric (GE) Sees Significant Drop in Short Interest

General Electric (NYSE:GE) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 113,341,523 shares, a decrease of 10.5% from the April 15th total of 126,651,407 shares. Based on an average daily trading volume, of 67,608,503 shares, the short-interest ratio is presently 1.7 days. Approximately 1.3% of the shares of the company are sold short.

NYSE GE opened at $9.45 on Monday. The stock has a market cap of $82.05 billion, a P/E ratio of 14.54, a PEG ratio of 2.26 and a beta of 0.99. General Electric has a 52-week low of $6.66 and a 52-week high of $14.72. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. As a group, sell-side analysts predict that General Electric will post 0.61 EPS for the current fiscal year.



A number of equities research analysts have recently commented on the stock. Deutsche Bank upped their target price on shares of General Electric from $8.00 to $11.00 and gave the company a “positive” rating in a report on Monday, February 25th. They noted that the move was a valuation call. Cowen reaffirmed a “hold” rating and issued a $8.00 target price on shares of General Electric in a report on Tuesday, February 26th. Gabelli reaffirmed a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. Bank of America reaffirmed a “hold” rating and issued a $11.00 target price on shares of General Electric in a report on Thursday, January 31st. Finally, Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.11.

In other news, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Russell Stokes sold 49,904 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The disclosure for this sale can be found here. Insiders sold 4,709,756 shares of company stock valued at $45,535,810 over the last ninety days. Corporate insiders own 1.13% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Electron Capital Partners LLC grew its position in General Electric by 45.8% during the first quarter. Electron Capital Partners LLC now owns 2,095,190 shares of the conglomerate’s stock worth $20,931,000 after buying an additional 657,990 shares during the period. Allstate Corp grew its position in General Electric by 284.5% during the first quarter. Allstate Corp now owns 614,857 shares of the conglomerate’s stock worth $6,142,000 after buying an additional 454,943 shares during the period. Advisory Resource Group grew its position in General Electric by 34.4% during the first quarter. Advisory Resource Group now owns 26,827 shares of the conglomerate’s stock worth $268,000 after buying an additional 6,863 shares during the period. Columbia Asset Management grew its position in General Electric by 4.8% during the first quarter. Columbia Asset Management now owns 152,650 shares of the conglomerate’s stock worth $1,525,000 after buying an additional 7,017 shares during the period. Finally, B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in General Electric during the first quarter worth about $599,000. Institutional investors own 58.60% of the company’s stock.

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About General Electric

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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