General Electric Company (GE) Short Interest Down 15.1% in October

General Electric Company (NYSE:GE) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 101,479,654 shares, a decline of 15.1% from the October 13th total of 119,550,953 shares. Based on an average daily trading volume, of 102,002,667 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.2% of the shares of the company are short sold.

General Electric (GE) opened at $17.90 on Wednesday. General Electric has a 52 week low of $17.46 and a 52 week high of $32.38. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $155,230.00, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities analysts anticipate that General Electric will post 1.06 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 5.36%. General Electric’s payout ratio is 111.63%.

In other General Electric news, Director James S. Tisch bought 100,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.36% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Peak Financial Management Inc. boosted its position in shares of General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after acquiring an additional 25 shares during the last quarter. BerganKDV Wealth Management LLC boosted its position in shares of General Electric by 0.3% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after acquiring an additional 36 shares during the last quarter. Puplava Financial Services Inc. boosted its position in shares of General Electric by 0.4% during the 2nd quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after acquiring an additional 41 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its position in shares of General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after acquiring an additional 67 shares during the last quarter. Finally, Northwest Wealth Management LLC boosted its position in shares of General Electric by 0.8% during the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.

A number of equities analysts have weighed in on the company. J P Morgan Chase & Co set a $17.00 target price on General Electric and gave the stock a “sell” rating in a research report on Wednesday. Bank of America Corporation reduced their price target on shares of General Electric from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday. Morningstar, Inc. reaffirmed a “buy” rating on shares of General Electric in a research report on Tuesday. Stifel Nicolaus set a $22.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday. Finally, Goldman Sachs Group, Inc. (The) set a $22.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.02.

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