In the last trading session, 3.75 million General Electric Company (NYSE:GE) shares changed hands as the company’s beta touched 1.30. With the company’s per share price at $116.57 changed hands at $1.08 or 0.94% during last session, the market valuation stood at $127.05B. GE’s last price was a discount, traded about -1.19% off its 52-week high of $117.96. The share price had its 52-week low at $48.29, which suggests the last value was 58.57% up since then. When we look at General Electric Company’s average trading volume, we note the 10-day average is 4.04 million shares, with the 3-month average coming to 4.54 million.
Analysts gave the General Electric Company (GE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 19 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended GE as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. General Electric Company’s EPS for the current quarter is expected to be $0.54.
General Electric Company (NYSE:GE) trade information
Instantly GE was in green as seen at the end of in last trading. With action 2.02%, the performance over the past five days has been green. The jump to weekly highs of 117.43 on Monday, 09/18/23 added 0.94% to the stock’s daily price. The company’s shares are showing year-to-date upside of 78.28%, with the 5-day performance at 2.02% in the green. However, in the 30-day time frame, General Electric Company (NYSE:GE) is 5.06% up. Looking at the short shares, we see there were 13.0 million shares sold at short interest cover period of 3.39 days.
The consensus price target for the stock as assigned by Wall Street analysts is $128.23, meaning bulls need an upside of 9.09% from its current market value. According to analyst projections, GE’s forecast low is $110.00 with $140.00 as the target high. To hit the forecast high, the stock’s price needs a -20.1% plunge from its current level, while the stock would need to tank 5.64% for it to hit the projected low.
General Electric Company (GE) estimates and forecasts
Data shows that the General Electric Company share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 29.11% over the past 6 months, a -12.60% in annual growth rate that is considerably lower than the industry average of -4.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for General Electric Company will rise 54.30%, while the growth in revenue is estimated to hit -31.50% for the next quarter. Year-over-year growth is forecast to reach -17.00% down from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $15.65 billion. 9 analysts are of the opinion that General Electric Company’s revenue for the quarter ending Dec 2023 will be $17.66 billion. The company’s revenue for the corresponding quarters a year ago was $18.62 billion and $21.79 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.90%. The estimates for the next quarter sales put growth at -19.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 16.50%. The 2023 estimates are for General Electric Company earnings to increase by 116.30%, but the outlook for the next 5-year period is at 29.00% per year.
General Electric Company is expected to release its next quarterly earnings report on October 24. The 0.27% annual yield figure for the share gives it an annual dividend of 0.32. It is important to note, however, that the 0.27% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
General Electric Company (NYSE:GE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.20% of General Electric Company shares while 76.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.60%. There are 76.45% institutions holding the General Electric Company stock share, with Capital Research Global Investors the top institutional holder. As of Jun 29, 2023, the company held 8.50% of the shares, roughly 92.56 million GE shares worth $10.17 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.07% or 87.8 million shares worth $9.64 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Investment Company Of America and Vanguard Total Stock Market Index Fund. With 39.1 million shares estimated at $4.3 billion under it, the former controlled 3.59% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.12% of the shares, roughly 33.98 million shares worth around $3.73 billion.