why General Electric Company [GE] is a Good Choice for Investors After New Price Target of $85.82

General Electric Company [NYSE: GE] gained 0.73% or 0.62 points to close at $85.28 with a heavy trading volume of 5871004 shares. The company report on December 1, 2022 that GE Grid Solutions Uses Digital X-ray to Assess Substation Health for Petrobras in Brazil.

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To assess the condition of Petrobras’ substation, GE Grid Solutions Services team performed a non-intrusive inspection, using digital X-ray technology.

This is the first time GE has used this inspection method in Latin America, helping reduce plant outage by up to 75% compared to traditional methodologies.

It opened the trading session at $86.61, the shares rose to $87.10 and dropped to $84.47, the range by which the price of stock traded the whole day. The daily chart for GE points out that the company has recorded 9.33% gains over the past six months. However, it is still -42.3% lower than its most recent low trading price.

If we look at the average trading volume of 6.07M shares, GE reached to a volume of 5871004 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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.

Oppenheimer have made an estimate for General Electric Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 06, 2022. While these analysts kept the previous recommendation, Bernstein dropped their target price from $105 to $100. The new note on the price target was released on August 17, 2022, representing the official price target for General Electric Company stock. Previously, the target price had yet another raise from $108 to $113, while RBC Capital Mkts kept a Outperform rating on GE stock.

The Average True Range (ATR) for General Electric Company is set at 2.10, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 2.97, with the Price to Cash per share for the same quarter was set at 17.62. Price to Free Cash Flow for GE in the course of the last twelve months was 47.16 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for GE stock

General Electric Company [GE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.44. With this latest performance, GE shares gained by 5.19% in over the last four-week period, additionally plugging by 9.33% over the last 6 months – not to mention a drop of -11.18% 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 57.61, with the RSI for the last a single of trading hit 52.18, and the three-weeks RSI is set at 59.83 for General Electric Company [GE]. The present Moving Average for the last 50 days of trading for this stock 76.67, while it was recorded at 85.61 for the last single week of trading, and 77.61 for the last 200 days.

General Electric Company [GE]: A deeper dive into fundamental analysis

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.

General Electric Company [GE]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at General Electric Company [GE]

There are presently around $66,315 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 $7.34 billion in GE stocks shares; and BLACKROCK INC., currently with $5.61 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 65,480,795 shares. Additionally, 727 investors decreased positions by around 59,322,863 shares, while 257 investors held positions by with 652,810,300 shares. The mentioned changes placed institutional holdings at 777,613,958 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 3,810,838 shares during the same period.


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