General Electric (NYSE:GE) was the recipient of a significant decline in short interest in March. As of March 29th, there was short interest totalling 151,313,309 shares, a decline of 2.6% from the March 15th total of 155,342,035 shares. Based on an average daily trading volume, of 96,403,042 shares, the short-interest ratio is presently 1.6 days. Approximately 1.8% of the company’s shares are sold short.
Shares of NYSE:GE opened at $13.33 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The firm has a market capitalization of $117,127.95, a P/E ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.02. General Electric has a 12-month low of $12.73 and a 12-month high of $30.54.
General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. equities research analysts predict that General Electric will post 0.96 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research report on Wednesday, January 10th. JPMorgan Chase reissued a “sell” rating and set a target price on shares of General Electric in a research report on Monday, January 15th. Deutsche Bank reissued a “sell” rating and set a $15.00 target price on shares of General Electric in a research report on Wednesday, January 17th. Vertical Research set a $18.00 target price on shares of General Electric and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Finally, Tigress Financial reissued a “hold” rating on shares of General Electric in a research report on Thursday, December 28th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $17.86.
In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.12% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Palouse Capital Management Inc. increased its stake in General Electric by 5.4% during the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after purchasing an additional 9,755 shares during the last quarter. Boston Partners increased its stake in General Electric by 2.5% during the third quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after purchasing an additional 360,154 shares during the last quarter. Berkshire Asset Management LLC PA increased its stake in General Electric by 4.0% during the third quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after purchasing an additional 36,870 shares during the last quarter. Gabelli Funds LLC increased its stake in General Electric by 10.2% during the third quarter. Gabelli Funds LLC now owns 2,225,000 shares of the conglomerate’s stock valued at $53,801,000 after purchasing an additional 206,644 shares during the last quarter. Finally, Brookstone Capital Management increased its stake in General Electric by 17.3% during the third quarter. Brookstone Capital Management now owns 315,454 shares of the conglomerate’s stock valued at $7,628,000 after purchasing an additional 46,415 shares during the last quarter. Institutional investors and hedge funds own 56.22% of the company’s stock.
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About General Electric
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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