General Electric Company [NYSE: GE] gained 1.39% or 1.33 points to close at $96.77 with a heavy trading volume of 6123579 shares. The company report on March 30, 2023 that Two GE-Led Consortiums in Agreement with TenneT for the Award of Contracts Totaling Approx. 10 Bln Euros to Build State-of-the-Art HVDC Systems for TenneT’s 2GW Program in the Netherlands and Germany.
Dutch-German Transmission Systems Operator (TSO) TenneT awards GE Grid Solutions consortium with Sembcorp Marine three projects in the Netherlands, while TenneT has entered into an agreement with GE-led consortium with McDermott to award two projects in Germany.
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TenneT’s innovative High-Voltage Direct Current (HVDC) 2GW Program in the Dutch and German North Sea is one of the most important infrastructure projects of the century.
It opened the trading session at $95.62, the shares rose to $96.845 and dropped to $95.475, the range by which the price of stock traded the whole day. The daily chart for GE points out that the company has recorded 82.53% gains over the past six months. However, it is still -106.91% lower than its most recent low trading price.
If we look at the average trading volume of 7.53M shares, GE reached to a volume of 6123579 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 $100.89 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 1.87, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 1.36. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 23.09. Price to Free Cash Flow for GE in the course of the last twelve months was 26.69 with Quick ratio for the last quarter at 0.90.
Trading performance analysis for GE stock
General Electric Company [GE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.55. With this latest performance, GE shares gained by 5.22% in over the last four-week period, additionally plugging by 82.53% over the last 6 months – not to mention a rise of 36.65% 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 66.38, with the RSI for the last a single of trading hit 69.05, and the three-weeks RSI is set at 65.52 for General Electric Company [GE]. The present Moving Average for the last 50 days of trading for this stock 88.68, while it was recorded at 94.90 for the last single week of trading, and 67.82 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 +5.23 and a Gross Margin at +27.80. General Electric Company’s Net Margin is presently recorded at +1.13.
Return on Total Capital for GE is now 5.26, given the latest momentum, and Return on Invested Capital for the company is 1.23. Return on Equity for this stock inclined to 2.27, with Return on Assets sitting at 0.45. When it comes to the capital structure of this company, General Electric Company [GE] has a Total Debt to Total Equity ratio set at 95.54. Additionally, GE Total Debt to Total Capital is recorded at 48.86, with Total Debt to Total Assets ending up at 18.50. Long-Term Debt to Equity for the company is recorded at 85.22, with the Long-Term Debt to Total Capital now at 43.58.
Reflecting on the efficiency of the workforce at the company, General Electric Company [GE] managed to generate an average of $5,052 per employee. Receivables Turnover for the company is 3.68 with a Total Asset Turnover recorded at a value of 0.40.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.
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 24.60%.
An analysis of insider ownership at General Electric Company [GE]
There are presently around $74,543 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 $8.28 billion in GE stocks shares; and BLACKROCK INC., currently with $6.48 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 663 institutional holders increased their position in General Electric Company [NYSE:GE] by around 50,128,661 shares. Additionally, 781 investors decreased positions by around 43,720,659 shares, while 219 investors held positions by with 687,196,964 shares. The mentioned changes placed institutional holdings at 781,046,284 shares, according to the latest SEC report filing. GE stock had 225 new institutional investments in for a total of 5,387,093 shares, while 102 institutional investors sold positions of 3,892,371 shares during the same period.