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

General Electric (NYSE:GE) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 13,180,000 shares, an increase of 11.1% from the December 15th total of 11,860,000 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 4,770,000 shares, the days-to-cover ratio is currently 2.8 days.

General Electric Price Performance

NYSE GE traded up $3.09 during trading hours on Monday, reaching $182.83. The company’s stock had a trading volume of 5,887,078 shares, compared to its average volume of 4,238,171. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The company’s 50-day moving average is $174.33 and its two-hundred day moving average is $174.16. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the company posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Analysts forecast that General Electric will post 4.23 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. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GE shares. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % 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 Trading of General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerro Pacific Wealth Advisors LLC purchased a new stake in General Electric in the 4th quarter worth approximately $198,000. FCG Investment Co grew its position in shares of General Electric by 3.3% in the fourth quarter. FCG Investment Co now owns 9,831 shares of the conglomerate’s stock valued at $1,640,000 after purchasing an additional 310 shares during the period. Key Client Fiduciary Advisors LLC grew its position in shares of General Electric by 9.3% in the fourth quarter. Key Client Fiduciary Advisors LLC now owns 2,507 shares of the conglomerate’s stock valued at $418,000 after purchasing an additional 214 shares during the period. Secure Asset Management LLC increased its stake in General Electric by 28.1% in the fourth quarter. Secure Asset Management LLC now owns 6,402 shares of the conglomerate’s stock valued at $1,068,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Red Door Wealth Management LLC lifted its position in General Electric by 4.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.