Market Analysts see General Electric Company [GE] gaining to $88. Time to buy?

General Electric Company [NYSE: GE] traded at a low on 03/10/23, posting a -0.61 loss after which it closed the day’ session at $91.00. 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.

The results of the trading session contributed to over 18233163 shares changing hands. Over the past one week, the price volatility of General Electric Company stands at 2.87% while the volatility over the past one month is 2.43%.

The market cap for GE stock reached $99.74 billion, with 1.09 billion shares outstanding and 1.08 billion shares in the current float. Compared to the average trading volume of 7.97M shares, GE reached a trading volume of 18233163 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $93.39 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 2.36, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 22.69. Price to Free Cash Flow for GE in the course of the last twelve months was 25.53 with Quick ratio for the last quarter at 0.90.

How has GE stock performed recently?

General Electric Company [GE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.35. With this latest performance, GE shares gained by 11.03% in over the last four-week period, additionally plugging by 58.08% over the last 6 months – not to mention a rise of 27.80% 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 74.24, with the RSI for the last a single of trading hit 77.86, and the three-weeks RSI is set at 71.91 for General Electric Company [GE]. The present Moving Average for the last 50 days of trading for this stock 80.27, while it was recorded at 88.60 for the last single week of trading, and 63.14 for the last 200 days.

General Electric Company [GE]: Deeper insight into the 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.

Earnings analysis for General Electric Company [GE]

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%.

Insider trade positions for General Electric Company [GE]

There are presently around $71,389 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 $7.9 billion in GE stocks shares; and BLACKROCK INC., currently with $6.18 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 669 institutional holders increased their position in General Electric Company [NYSE:GE] by around 51,063,711 shares. Additionally, 783 investors decreased positions by around 43,488,573 shares, while 226 investors held positions by with 689,942,519 shares. The mentioned changes placed institutional holdings at 784,494,803 shares, according to the latest SEC report filing. GE stock had 244 new institutional investments in for a total of 5,767,133 shares, while 100 institutional investors sold positions of 3,893,124 shares during the same period.


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