General Electric Co. [NYSE: GE] surged by $6.57 during the normal trading session on while it closed the day at $180.12. The company report on March 27, 2024 at 6:12 PM that GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600.
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600:.
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Solventum Corp. (NYSE: SOLV) will be added to the S&P 500 effective prior to the open of trading on Monday, April 1, replacing V.F. Corp. (NYSE: VFC), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Wednesday, April 3. V.F. will replace ModivCare Inc. (NASD: MODV) in the S&P SmallCap 600 also effective prior to the open of trading on April 3. S&P 500 and 100 constituent 3M Co. (NYSE: MMM) is spinning off Solventum in a transaction expected to be completed April 1. Following the spin-off, the parent 3M will remain in the S&P 500 and S&P 100. V.F. is no longer representative of the large-cap market space, and ModivCare is no longer representative of the small-cap market space.
General Electric Co. stock has also gained 3.56% of its value over the past 7 days. However, GE stock has inclined by 41.30% in the 3 months of the year. Over the past six months meanwhile, it has gained 63.85% and gained 41.13% year-on date.
The market cap for GE stock reached $196.03 billion, with 1.09 billion shares outstanding and 1.08 billion shares in the current float. Compared to the average trading volume of 5.81M shares, GE reached a trading volume of 10032274 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 Co. [GE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GE shares is $177.04 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 1.68. 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.
Wells Fargo have made an estimate for General Electric Co. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on Mar-28-24. While these analysts kept the previous recommendation, JP Morgan raised their target price from $166 to $180. The new note on the price target was released on March 08, 2024, representing the official price target for General Electric Co. stock. Previously, the target price had yet another raise from $131 to $150, while RBC Capital Mkts kept a Outperform rating on GE stock. On December 15, 2023, analysts increased their price target for GE shares from 115 to 144.
The Average True Range (ATR) for General Electric Co. is set at 3.84, with the Price to Sales ratio for GE stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 7.16, with the Price to Cash per share for the same quarter was set at 20.83. Price to Free Cash Flow for GE in the course of the last twelve months was 54.70 with Quick ratio for the last quarter at 0.85.
GE stock trade performance evaluation
General Electric Co. [GE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.56. With this latest performance, GE shares gained by 16.97% in over the last four-week period, additionally plugging by 63.85% over the last 6 months – not to mention a rise of 93.03% 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 78.30, with the RSI for the last a single of trading hit 78.44, and the three-weeks RSI is set at 78.16 for General Electric Co. [GE]. The present Moving Average for the last 50 days of trading for this stock 151.13, while it was recorded at 175.79 for the last single week of trading, and 123.61 for the last 200 days.
General Electric Co. [GE]: An insightful look at the core fundamentals
General Electric Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.85 and a Current Ratio set at 1.18.
Earnings per share (EPS) analysis for General Electric Co. [GE] stock
With the latest financial reports released by the company, General Electric Co. posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 92.90%. 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 Co. go to 37.60%.
General Electric Co. [GE]: Institutional Ownership
The top three institutional holders of GE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GE stock with ownership which is approximately 5.8325%.
