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

General Electric (NYSE:GE) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 15,670,000 shares, a growth of 36.3% from the February 13th total of 11,500,000 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 5,440,000 shares, the days-to-cover ratio is currently 2.9 days.

General Electric Stock Performance

General Electric stock traded up $5.12 during trading hours on Monday, hitting $202.23. The company had a trading volume of 3,732,215 shares, compared to its average volume of 5,397,960. The firm has a market cap of $217.06 billion, a PE ratio of 33.76, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $133.99 and a one year high of $212.19. The firm has a 50-day moving average of $196.14 and a 200 day moving average of $184.20.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC boosted its stake in General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its stake in General Electric by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after acquiring an additional 50 shares during the last quarter. Ballast Advisors LLC boosted its stake in General Electric by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after acquiring an additional 51 shares during the last quarter. Blue Barn Wealth LLC boosted its stake in General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after acquiring an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. boosted its stake in General Electric by 1.2% in the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the conglomerate’s stock valued at $789,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Bank of America boosted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company upped their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.