General Electric Co. (NYSE: GE)’s stock price has dropped by -2.55 in relation to previous closing price of 180.12. Nevertheless, the company has seen a loss of -0.63% in its stock price over the last five trading days. Barrons reported 2024-03-29 that Trading in General Electric’s power-generation spinoff began this week. The spinoff itself takes place on April 2.
Is It Worth Investing in General Electric Co. (NYSE: GE) Right Now?
General Electric Co. (NYSE: GE) has a higher price-to-earnings ratio of 21.00x compared to its average ratio. GE has 36-month beta value of 1.31. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 6 as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for GE is 1.09B, and currently, short sellers hold a 1.17% ratio of that float. The average trading volume of GE on April 01, 2024 was 5.93M shares.
GE’s Market Performance
GE’s stock has seen a -0.63% decrease for the week, with a 12.80% rise in the past month and a 36.92% gain in the past quarter. The volatility ratio for the week is 2.20%, and the volatility levels for the past 30 days are at 2.52% for General Electric Co. The simple moving average for the past 20 days is 4.34% for GE’s stock, with a 42.01% simple moving average for the past 200 days.
Analysts’ Opinion of GE
Many brokerage firms have already submitted their reports for GE stocks, with Wells Fargo repeating the rating for GE by listing it as a “Overweight.” The predicted price for GE in the upcoming period, according to Wells Fargo is $200 based on the research report published on March 27, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see GE reach a price target of $180, previously predicting the price at $166. The rating they have provided for GE stocks is “Overweight” according to the report published on March 08th, 2024.
RBC Capital Mkts gave a rating of “Outperform” to GE, setting the target price at $150 in the report published on December 18th of the previous year.
GE Trading at 16.15% from the 50-Day Moving Average
After a stumble in the market that brought GE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.68% of loss for the given period.
Volatility was left at 2.52%, however, over the last 30 days, the volatility rate increased by 2.20%, as shares surge +11.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +38.34% upper at present.
During the last 5 trading sessions, GE fell by -0.63%, which changed the moving average for the period of 200-days by +65.24% in comparison to the 20-day moving average, which settled at $169.15. In addition, General Electric Co. saw 37.53% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GE starting from Holston Michael J, who sale 22,055 shares at the price of $144.87 back on Feb 14 ’24. After this action, Holston Michael J now owns 56,284 shares of General Electric Co., valued at $3,195,108 using the latest closing price.
Holston Michael J, the Senior Vice President of General Electric Co., sale 13,601 shares at $135.55 during a trade that took place back on Feb 02 ’24, which means that Holston Michael J is holding 48,339 shares at $1,843,616 based on the most recent closing price.
Stock Fundamentals for GE
Current profitability levels for the company are sitting at:
- 0.06 for the present operating margin
- 0.26 for the gross margin
The net margin for General Electric Co. stands at 0.16. The total capital return value is set at 0.03. Equity return is now at value 28.45, with 5.17 for asset returns.
Based on General Electric Co. (GE), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at 0.84. The interest coverage ratio of the stock is 3.37.
Currently, EBITDA for the company is 8.48 billion with net debt to EBITDA at 1.12. When we switch over and look at the enterprise to sales, we see a ratio of 2.9. The receivables turnover for the company is 3.9for trailing twelve months and the total asset turnover is 0.42. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.18.
Conclusion
To put it simply, General Electric Co. (GE) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
