General Electric Company [GE] moved up 1.64: Why It’s Important

General Electric Company [NYSE: GE] closed the trading session at $87.30 on 11/22/22. The day’s price range saw the stock hit a low of $86.00, while the highest price level was $87.585. The company report on November 22, 2022 that GE Announces Closing of Offering of $8.25 Billion Senior Notes issued by GE HealthCare.

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General Electric Company (“GE”) (NYSE: GE) announced today that GE Healthcare Holding LLC (“GE HealthCare”), a direct, wholly-owned subsidiary of GE, has closed its previously announced offering of $1,000,000,000 aggregate principal amount of 5.550% senior notes due 2024 (the “2024 notes”), $1,500,000,000 aggregate principal amount of 5.600% senior notes due 2025 (the “2025 notes”) and $1,750,000,000 aggregate principal amount of 5.650% senior notes due 2027 (the “2027 notes” and, together with the 2024 notes and the 2025 notes, the “New Money Notes”), $1,250,000,000 aggregate principal amount of 5.857% senior notes due 2030 (the “2030 notes”), $1,750,000,000 aggregate principal amount of 5.905% senior notes due 2032 (the “2032 notes”), and $1,000,000,000 aggregate principal amount of 6.377% senior notes due 2052 (the “2052 notes” and, together with the 2030 notes and the 2032 notes, the “SpinCo Debt Securities” and, together with the New Money Notes, the “Notes”).

The Notes were offered as part of the financing for the proposed spin-off of GE HealthCare from GE (the “Spin-Off”), which is expected to be completed in the first week of January 2023. GE HealthCare has distributed the net proceeds from the offering of the New Money Notes to GE. The SpinCo Debt Securities were initially issued by GE HealthCare to GE and were transferred and delivered by GE to BofA Securities, Inc. and Morgan Stanley & Co. LLC, as selling noteholders in the offering, in satisfaction of certain debt obligations of GE in connection with the Spin-Off. GE HealthCare will not receive any proceeds from the offering of the SpinCo Debt Securities.

The stocks have a year to date performance of -7.59 percent and weekly performance of 0.18 percent. The stock has been moved at 17.15 percent over the last six months. The stock has performed 19.00 percent around the most recent 30 days and changed 13.76 percent over the most recent 3-months.

If compared to the average trading volume of 6.14M shares, GE reached to a volume of 4234154 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about General Electric Company [GE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GE shares is $85.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GE stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for General Electric Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $108 to $113. The new note on the price target was released on February 22, 2022, representing the official price target for General Electric Company stock. Previously, the target price had yet another raise to $120, while Bernstein analysts kept a Outperform rating on GE stock.

The Average True Range (ATR) for General Electric Company is set at 2.17, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 3.04, with the Price to Cash per share for the same quarter was set at 17.31. Price to Free Cash Flow for GE in the course of the last twelve months was 49.14 with Quick ratio for the last quarter at 0.80.

GE stock trade performance evaluation

General Electric Company [GE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.18. With this latest performance, GE shares gained by 19.00% in over the last four-week period, additionally plugging by 17.15% over the last 6 months – not to mention a drop of -13.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GE stock in for the last two-week period is set at 73.58, with the RSI for the last a single of trading hit 74.85, and the three-weeks RSI is set at 70.75 for General Electric Company [GE]. The present Moving Average for the last 50 days of trading for this stock 73.13, while it was recorded at 85.79 for the last single week of trading, and 78.15 for the last 200 days.

General Electric Company [GE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and General Electric Company [GE] shares currently have an operating margin of +6.01 and a Gross Margin at +27.82. General Electric Company’s Net Margin is presently recorded at -4.49.

Return on Equity for this stock declined to -8.79, with Return on Assets sitting at -1.47.

General Electric Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for General Electric Company [GE] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for General Electric Company go to 44.50%.

General Electric Company [GE]: Insider Ownership positions

There are presently around $67,886 million, or 71.90% of GE stock, in the hands of institutional investors. The top three institutional holders of GE stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 91,068,909, which is approximately 5.108% of the company’s market cap and around 0.21% of the total institutional ownership; VANGUARD GROUP INC, holding 86,108,801 shares of the stock with an approximate value of $7.52 billion in GE stocks shares; and BLACKROCK INC., currently with $5.75 billion in GE stock with ownership of nearly -4.064% of the company’s market capitalization.

Positions in General Electric Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 585 institutional holders increased their position in General Electric Company [NYSE:GE] by around 65,473,329 shares. Additionally, 728 investors decreased positions by around 59,321,347 shares, while 257 investors held positions by with 652,821,006 shares. The mentioned changes placed institutional holdings at 777,615,682 shares, according to the latest SEC report filing. GE stock had 101 new institutional investments in for a total of 32,502,347 shares, while 128 institutional investors sold positions of 3,812,619 shares during the same period.


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