Short Interest in General Electric (GE) Declines By 18.5%
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.
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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