General Electric (NYSE:GE) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 98,997,767 shares, a drop of 18.5% from the August 15th total of 121,477,786 shares. Based on an average daily volume of 46,784,896 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.1% of the company’s stock are sold short.

In other General Electric news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the stock in a transaction dated Tuesday, July 24th. The stock was acquired at an average price of $13.04 per share, with a total value of $2,490,640.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.12% of the company’s stock.

A number of large investors have recently modified their holdings of GE. Archford Capital Strategies LLC acquired a new stake in General Electric during the first quarter worth approximately $121,000. Santori & Peters Inc. acquired a new position in shares of General Electric in the 4th quarter valued at $120,000. Fusion Family Wealth LLC increased its holdings in shares of General Electric by 153.3% in the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of General Electric in the 1st quarter valued at $116,000. Finally, Ackerman Capital Advisors LLC acquired a new position in shares of General Electric in the 4th quarter valued at $225,000. 53.70% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the stock. UBS Group lowered their price objective on shares of General Electric from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 5th. MED raised shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research note on Thursday, July 12th. Goldman Sachs Group reissued a “neutral” rating and issued a $14.00 price objective on shares of General Electric in a research note on Wednesday, June 27th. Cowen reissued a “hold” rating and issued a $14.50 price objective on shares of General Electric in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of General Electric in a research note on Tuesday, July 24th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.40.

Shares of NYSE:GE opened at $12.66 on Wednesday. The company has a market capitalization of $110.10 billion, a P/E ratio of 12.06, a PEG ratio of 2.40 and a beta of 0.97. General Electric has a fifty-two week low of $11.94 and a fifty-two week high of $25.21. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.

General Electric (NYSE:GE) last issued its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $30.10 billion for the quarter, compared to analysts’ expectations of $29.39 billion. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. analysts predict that General Electric will post 0.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be issued a $0.12 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 3.79%. General Electric’s dividend payout ratio (DPR) is 45.71%.

General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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