General Electric Co. (NYSE:GE) finished Friday with a subtraction of -$1.79 to close at $110.55, a downside of -1.59 percent. An average of 4,328,580 shares of common stock have been traded in the last five days. There was a fall of -$0.70 in the past week, and it reached a new high 71 times over the past 12 months. The last 20 days have seen an average of 4,116,165 shares traded, while the 50-day average volume stands at 4,461,116.
GE stock has decreased by -3.29% in the last month. The company shares reached their 1-month lowest point of $109.75 on 09/26/23. With the stock rallying to its 52-week high on 07/25/23, shares of the company touched a low of $48.29 and a high of $117.96 in 52 weeks. It has reached a new high 45 times so far this year and achieved 69.08% or $45.47 in price. In spite of this, the price is down -6.28% from the 52-week high.
Insider Transactions
GE stock investors should be aware that General Electric Co. (GE) stock had its last reported insider trading activity 65 days ago on Jul 27. In this transaction, the insider spent $12,973,133. Senior Vice President, Holston Michael J, disposed of 58,292 shares at a price of $104.68 on May 22. The insider now owns more than $6,102,007 worth of shares. Prior to that, Senior Vice President Strazik Scott went on to Sale 173,873 shares at $99.56 each on May 10. An amount of $17,310,796 was transacted.
Valuation Metrics
General Electric Co. (GE) has a trailing price-to-earnings (P/E) ratio of 13.48. The stock’s beta is 1.29. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.67, the price-to-book (PB) ratio at 3.86, and the price-to-cash flow ratio at 25.26.
Financial Health
The quick ratio of General Electric Co. for the three months ended June 29 was 0.90, and the current ratio was 1.25, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.71 and a total debt to equity ratio of 0.77 for the quarter ending June 29. Its gross profit as reported stood at $21.02 billion compared to revenue of $76.56 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, General Electric Co.’s return on assets was 5.46%.
Earnings Surprise
For the three-month period that ended June 29, General Electric Co. had $19.9 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$23.0 million in the quarter, while revenues of $7.36 billion were shrunk -3626.09%. The analyst consensus anticipated General Electric Co.’s latest quarter earnings to come in at $0.46 per share, but it turned out to be $0.68, a 47.80% surprise. For the quarter, EBITDA amounted to $2.04 billion. Shareholders own equity worth $1.09 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at General Electric Co. (GE) price momentum. RSI 9-day as of the close on 29 September was 39.57%, suggesting the stock is Neutral, with historical volatility in this time frame at 17.07%.
As of today, GE’s price is $111.09 -0.63% or -$0.70 from its 5-day moving average. GE is currently trading -3.42% lower than its 20-day SMA and +9.54% higher than its 100-day SMA. However, the stock’s current price level is -0.62% below the SMA50 and +71.05% above the SMA200.
The stochastic %K and %D were 19.07% and 15.41%, respectively, and the average true range (ATR) was 2.21. With the 14-day stochastic at 10.10% and the average true range at 2.19, the RSI (14) stands at 42.75%. The stock has reached -1.04 on the 9-day MACD Oscillator while the 14-day reading was at -2.10.
Analyst Ratings
Deutsche Bank launched coverage on General Electric Co. (NYSE: GE) in its analyst report released on September 28, 2023. The firm assigned the stock a Buy rating. The consensus rating for General Electric Co. (GE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GE, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 11 others rate it as a “buy”.
What is GE’s price target for the next 12 months?
Analysts predict a range of price targets between $110.00 and $141.00, with a median target of $131.00. Taking a look at these predictions, the average price target given by analysts for General Electric Co. (GE) stock is $129.08.
