General Electric Company (NYSE:GE) has a beta value of 1.28 and has seen 4.27 million shares traded in the recent trading session. The company, currently valued at $86.24B, closed the recent trade at $78.94 per share which meant it lost -$0.83 on the day or -1.04% during that session. The GE stock price is -2.84% off its 52-week high price of $81.18 and 40.75% above the 52-week low of $46.77. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.55 million shares traded. The 3-month trading volume is 8.10 million shares.
The consensus among analysts is that General Electric Company (GE) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 3 rate it as Overweight. 7 out of 22 have rated it as a Hold, with 12 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.13.
General Electric Company (NYSE:GE) trade information
Sporting -1.04% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the GE stock price touched $78.94 or saw a rise of 2.76%. Year-to-date, General Electric Company shares have moved 22.00%, while the 5-day performance has seen it change -0.54%. Over the past 30 days, the shares of General Electric Company (NYSE:GE) have changed 27.26%. Short interest in the company has seen 11.76 million shares shorted with days to cover at 2.02.
Wall Street analysts have a consensus price target for the stock at $81.89, which means that the shares’ value could jump 3.6% from the levels at last check today. The projected low price target is $67.11 while the price target rests at a high of $93.00. In that case, then, we find that the latest price level in today’s session is -17.81% off the targeted high while a plunge would see the stock lose 14.99% from the levels at last check today.
General Electric Company (GE) estimates and forecasts
Figures show that General Electric Company shares have outperformed across the wider relevant industry. The company’s shares have gained 49.91% over the past 6 months, with this year growth rate of 18.40%, compared to 6.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 22.80% and -20.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 1.50%.
13 analysts offering their estimates for the company have set an average revenue estimate of $21.59 billion for the current quarter. 8 have an estimated revenue figure of $13.53 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $20.3 billion and $17.04 billion respectively for this quarter and the next, and analysts expect sales will grow by 6.40% for the current quarter and -20.60% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -19.90% over the past 5 years. Earnings growth for 2023 is a modest -159.20% while over the next 5 years, the company’s earnings are expected to increase by 44.50%.
General Electric Company is expected to release its next earnings report on January 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.32 at a share yield of 0.40%. The company’s dividend yield has gone up over the past 12 months.
General Electric Company (NYSE:GE)’s Major holders
Insiders own 0.20% of the company shares, while shares held by institutions stand at 71.76% with a share float percentage of 71.91%. Investors are also buoyed by the number of investors in a company, with General Electric Company having a total of 1,850 institutions that hold shares in the company. The top two institutional holders are Capital Research Global Investors with over 91.07 million shares worth more than $7.15 billion. As of Sep 29, 2022, Capital Research Global Investors held 8.33% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 86.11 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $6.76 billion and represent 7.88% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Investment Company Of America and Vanguard Total Stock Market Index Fund. As of Dec 30, 2022, the former fund manager holds about 3.86% shares in the company for having 42.22 million shares of worth $3.31 billion while later fund manager owns 32.68 million shares of worth $2.57 billion as of Sep 29, 2022, which makes it owner of about 2.99% of company’s outstanding stock.