The Vanguard Group, Inc. has recently announced that it has increased stake in General Electric Co. (NYSE:GE) by 0.06%. After grabbing 83.56 million shares, the institutional investor is now in possession of 46391.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 7.68% having worth around $10.18 billion. Moreover, BlackRock Fund Advisors increased its share by 0.28 million to have a control over 47.89 million shares. And Geode Capital Management LLC raised its holdings to 0.44 million shares by acquiring 20.19 million shares or 1.86% of the stake.
General Electric Co. (GE) concluded trading on 01/10/24 at a closing price of $129.70, with 3.64 million shares of worth about $472.41 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.64% during that period and on Wednesday the price saw a gain of about 0.71%. Currently the company’s common shares owned by public are about 1.09B shares, out of which, 1.08B shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 53 times over the past 12 months. They bought 652,157 shares in 29 of the transactions. In 24 selling transactions, insiders dumped 477,945 shares.
American Funds Investment Company, Vanguard Total Stock Market ETF, and American Funds Growth Fund of Ame are the top 3 mutual funds which are holding stakes in General Electric Co. American Funds Investment Company is currently holding 37.12 million shares of worth totaling $4.52 billion. The company recently came selling -1.98 million shares which brought its stake up to 3.41% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 41439.0 shares, after which its hold over company’s outstanding shares expand to 3.13%, leaving 34.11 million shares with the mutual fund that have a worth of about $4.15 billion. American Funds Growth Fund of Ame, after selling 28.49 million shares, have now control over 2.62% of the stake in the company. It holds -1.54 million shares of worth $3.47 billion.
General Electric Co. (NYSE: GE) started trading at $128.70, below -$0.08 from concluding price of the previous day. However, the stock later moved at a day high price of 130.17, or with a gain of 0.71%. Stock saw a price change of 4.55% in past 5 days and over the past one month there was a price change of 7.55%. Year-to-date (YTD), GE shares are showing a performance of 1.62% which increased to 78.48% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $72.20 but also hit the highest price of $129.20 during that period. The average intraday trading volume for General Electric Co. shares is 4.66 million. The stock is currently trading 3.57% above its 20-day simple moving average (SMA20), while that difference is up 8.26% for SMA50 and it goes to 17.81% higher than SMA200.
The Vanguard Group, Inc. acquired 83.56 million shares of General Electric Co. having value of about $10.18 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 46391.0 shares in the company valued at close to $6016912.7, or have control over 0.06% stake in the company. General Electric Co. (NYSE: GE) currently have 1.09B outstanding shares and institutions hold larger chunk of about 76.28% of that. Holding of mutual funds in the company is about 31.75% while other institutional holders and individual stake holders have control over 44.87% and 0.60% of the stake respectively.
The stock has a current market capitalization of $141.16B and its 3Y-monthly beta is at 1.27. PE ratio of stock for trailing 12 months is 14.86, while it has posted earnings per share of $8.73 in the same period. Its PEG reads 0.47 and has Quick Ratio of 0.82 while making debt-to-equity ratio of 0.80. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GE, volatility over the week remained 1.74% while standing at 1.57% over the month.
Analysts are in expectations that General Electric Co. (GE) stock would likely to be making an EPS of $0.9 in the current quarter, while forecast for next quarter EPS is $0.72 and it is $4.64 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.83 which is $0.98 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.24 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.71% while it is estimated to increase by 72.90% in next year. EPS is likely to shrink at an annualized rate of 31.43% for next 5-years, compared to annual growth of 51.10% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the General Electric Co. (GE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.79. Out of those 19 Wall Street analysts, 11 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by RBC Capital Mkts on December 18, 2023 offering an Outperform rating for the stock and assigned a target price range of between $131 and $150 to it.
