General Electric Company (NYSE:GE) Short Interest Update

General Electric Company (NYSE:GE) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 102,126,861 shares, a decrease of 5.3% from the June 15th total of 107,862,195 shares. Based on an average daily trading volume, of 38,665,958 shares, the short-interest ratio is currently 2.6 days. Currently, 1.2% of the company’s stock are short sold.

In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander Dimitrief acquired 1,845 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $25.54 per share, with a total value of $47,121.30. Following the acquisition, the insider now owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 133,253 shares of company stock valued at $3,404,264. 0.36% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Ullmann Financial Group Inc. purchased a new position in General Electric during the first quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric during the first quarter worth about $114,000. Ffcm LLC bought a new position in shares of General Electric during the second quarter worth about $114,000. PHH Investments Ltd. raised its position in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the period. Finally, Empirical Finance LLC bought a new position in shares of General Electric during the fourth quarter worth about $140,000. 54.31% of the stock is currently owned by institutional investors.

General Electric (NYSE GE) traded down 0.08% on Wednesday, reaching $25.12. 21,817,965 shares of the company’s stock were exchanged. General Electric has a 12-month low of $25.05 and a 12-month high of $32.38. The company has a market cap of $217.49 billion, a P/E ratio of 30.60 and a beta of 1.21. The firm has a 50 day moving average of $26.15 and a 200-day moving average of $28.43.

General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Equities analysts expect that General Electric will post $1.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is 118.52%.

Several equities analysts recently issued reports on the company. Cowen and Company reissued a “hold” rating and issued a $30.00 target price on shares of General Electric in a research report on Thursday, April 20th. Stifel Nicolaus upped their target price on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Bank of America Corporation downgraded General Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $31.00 in a research report on Tuesday, April 25th. Argus cut their target price on General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Finally, Royal Bank Of Canada cut their target price on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average price target of $30.08.

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