General Electric Company [GE] stock Resumed by JP Morgan analyst, price target now $88

General Electric Company [NYSE: GE] stock went on an upward path that rose over 0.79% on Monday, amounting to a one-week price increase of more than 3.84%. The company report on March 6, 2023 that EnergyAustralia Modernizes Tallawarra A Power Plant to Support Energy Transition in Australia.

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Tallawara A Power Plant Project marks the First HE Upgrade for the GT26 gas turbine ordered in Australia.

GE’s technology is expected to increase performance of the existing GT26 gas turbine aiming to add nearly 40 megawatts (MW) of power, supporting the expected energy demand following the closure of the coal fired 1,680-megawatt Liddell plant in the Hunter Valley region.

Over the last 12 months, GE stock rose by 20.68%. The one-year General Electric Company stock forecast points to a potential upside of 0.32. The average equity rating for GE stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $94.11 billion, with 1.09 billion shares outstanding and 1.08 billion shares in the current float. Compared to the average trading volume of 7.63M shares, GE stock reached a trading volume of 6451345 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $87.34 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.

JP Morgan have made an estimate for General Electric Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 06, 2023. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $93 to $98. The new note on the price target was released on December 09, 2022, representing the official price target for General Electric Company stock. Previously, the target price had yet another raise to $104, while Oppenheimer analysts kept a Outperform rating on GE stock. On August 17, 2022, analysts decreased their price target for GE shares from 105 to 100.

The Average True Range (ATR) for General Electric Company is set at 1.92, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 1.23. The Price to Book ratio for the last quarter was 2.62, with the Price to Cash per share for the same quarter was set at 23.01. Price to Free Cash Flow for GE in the course of the last twelve months was 24.09 with Quick ratio for the last quarter at 0.90.

GE Stock Performance Analysis:

General Electric Company [GE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.84. With this latest performance, GE shares gained by 3.72% in over the last four-week period, additionally plugging by 52.66% over the last 6 months – not to mention a rise of 20.68% 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 69.81, with the RSI for the last a single of trading hit 73.54, and the three-weeks RSI is set at 68.30 for General Electric Company [GE]. The present Moving Average for the last 50 days of trading for this stock 78.27, while it was recorded at 85.60 for the last single week of trading, and 62.53 for the last 200 days.

Insight into General Electric Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and General Electric Company [GE] shares currently have an operating margin of +5.23 and a Gross Margin at +27.80. General Electric Company’s Net Margin is presently recorded at +1.13.

Return on Equity for this stock inclined to 2.27, with Return on Assets sitting at 0.45.

General Electric Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

GE Stock EPS

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 Position Details

There are presently around $68,297 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 102,093,162, which is approximately 12.105% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 86,785,547 shares of the stock with an approximate value of $7.56 billion in GE stocks shares; and BLACKROCK INC., currently with $5.91 billion in GE stock with ownership of nearly 3.113% of the company’s market capitalization.

Positions in General Electric Company stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 668 institutional holders increased their position in General Electric Company [NYSE:GE] by around 51,591,627 shares. Additionally, 783 investors decreased positions by around 43,489,320 shares, while 226 investors held positions by with 689,397,036 shares. The mentioned changes placed institutional holdings at 784,477,983 shares, according to the latest SEC report filing. GE stock had 243 new institutional investments in for a total of 5,764,518 shares, while 100 institutional investors sold positions of 3,893,871 shares during the same period.


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