General Electric Sees Significant Increase in Short Interest During February

General Electric (NYSE:GE) experienced a notable increase in short interest throughout February. As of February 28th, the total short interest reached 15,670,000 shares, reflecting a remarkable 36.3% increase from 11,500,000 shares recorded on February 13th. Presently, about 1.5% of the company's shares are sold short. Given the average daily trading volume of 5,440,000 shares, the current short-interest ratio stands at 2.9 days.

General Electric Stock Performance

On a recent Friday, shares of General Electric rose $4.97 during midday trading, reaching a price of $197.39. The trading volume for the day was 3,261,093 shares, which is lower than its average volume of 5,304,231 shares. General Electric has a quick ratio of 0.81, a current ratio of 1.09, and a debt-to-equity ratio of 0.88. Over the past 50 days, the simple moving average for the stock has been $195.54, while the 200-day simple moving average stands at $183.91. The stock's twelve-month range has seen lows of $131.91 and highs of $212.19, and the company currently has a market capitalization of $211.85 billion, along with a price-to-earnings ratio of 32.95 and a price-to-earnings-growth ratio of 2.59.

General Electric officially reported its quarterly earnings on January 23rd, showing an earnings per share (EPS) of $1.32 for the quarter, surpassing analysts' expectations of $1.05 by $0.27. The company has shown a return on equity of 22.19% and a net margin of 14.31%. Analysts are predicting that General Electric will report an EPS of 5.4 for the current fiscal year.

General Electric Increasing Its Dividend

Recently, General Electric declared a quarterly dividend that will be paid on April 25th. Stockholders who are on record by March 10th will receive a dividend of $0.36 per share. The ex-dividend date is set for March 10th. This marks an increase from the previously declared quarterly dividend of $0.28, bringing the annualized dividend to $1.44, which gives a dividend yield of 0.73%. General Electric's dividend payout ratio is currently at 24.04%.

Institutional Investment Movement

In recent months, several institutional investors have adjusted their holdings in General Electric. Vanguard Group Inc. raised its stake by 0.5% in the last quarter, now holding 89,815,318 shares valued at approximately $14.98 billion after acquiring an additional 410,172 shares. Furthermore, FMR LLC increased its holdings by 1.5% to 66,823,968 shares worth about $11.15 billion after adding 965,012 shares. State Street Corp also raised its position by 2.1%, owning 43,322,827 shares valued at around $8.18 billion after purchasing an additional 898,296 shares. Geode Capital Management LLC lifted its stake by 2.3%, now owning 23,117,418 shares worth roughly $3.85 billion. Lastly, Norges Bank entered a new position valued at $2.38 billion in General Electric during the same quarter. Collectively, institutional investors and hedge funds own approximately 74.77% of the company’s stock.

Analysts' Price Target Updates

Several analysts have issued new price targets for General Electric. UBS Group increased their target price from $215.00 to $235.00, maintaining a "buy" rating. On the other hand, JPMorgan Chase & Co. raised their price target from $190.00 to $210.00, also giving the stock an "overweight" rating. Additionally, Wells Fargo raised their target from $225.00 to $250.00, similarly advising a buy rating. Bank of America increased its target from $200.00 to $225.00 as well. Conversely, Deutsche Bank reduced their price target from $235.00 to $228.00 while maintaining a "buy" rating. Out of the analysts, two have rated the stock as hold and fifteen as buy. Overall, General Electric holds an average rating of "Moderate Buy" with an approximate average target price of $211.31.

In Conclusion

About General Electric

General Electric Company, known as GE, specializes in designing and manufacturing commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. The company also provides aftermarket services to support its wide range of products. Their operations extend across the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

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