General Electric (NYSE:GE) Short Interest Up 10.2% in July

General Electric (NYSE:GE) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 103,449,700 shares, an increase of 10.2% from the June 30th total of 93,878,700 shares. Based on an average daily trading volume, of 51,760,000 shares, the short-interest ratio is presently 2.0 days. Currently, 1.2% of the company’s shares are sold short.

In other General Electric news, Chairman H Lawrence Culp, Jr. bought 252,200 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $7.93 per share, for a total transaction of $1,999,946.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paula Rosput Reynolds bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $9.05 per share, for a total transaction of $45,250.00. Following the completion of the transaction, the director now owns 16,500 shares in the company, valued at $149,325. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 749,732 shares of company stock worth $6,536,708. 1.13% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in General Electric by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock valued at $6,805,671,000 after purchasing an additional 8,989,832 shares in the last quarter. BlackRock Inc. increased its stake in General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after purchasing an additional 9,483,976 shares in the last quarter. FMR LLC increased its stake in General Electric by 49.4% during the 1st quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock valued at $4,499,762,000 after purchasing an additional 148,979,851 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in General Electric by 26.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after purchasing an additional 76,193,032 shares in the last quarter. Finally, Harris Associates L P increased its stake in General Electric by 35.1% during the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock valued at $921,903,000 after purchasing an additional 31,634,318 shares in the last quarter. Institutional investors own 57.49% of the company’s stock.



Shares of NYSE GE traded up $0.75 during midday trading on Friday, reaching $8.76. The stock had a trading volume of 163,804,146 shares, compared to its average volume of 62,791,336. The firm has a market cap of $81.60 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 2.02 and a beta of 1.03. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73. The company’s 50 day moving average price is $10.08 and its 200 day moving average price is $9.97.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The firm had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. Equities analysts forecast that General Electric will post 0.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were paid a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. General Electric’s dividend payout ratio is currently 6.15%.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Wednesday, July 31st. Cowen restated a “hold” rating and issued a $8.00 price target on shares of General Electric in a research report on Wednesday, May 1st. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Citigroup set a $14.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Finally, William Blair restated a “buy” rating on shares of General Electric in a research report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.68.

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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