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General Electric (GE) shares surge on positive cash flow news and restructuring updates
By: Investing.com | September 14, 2023
Shares of General Electric (NYSE:GE) closed at $115.65 on Thursday, marking the second-highest closing price in the past year, influenced by positive cash flow news and favorable overall market conditions. The S&P 500 and Dow Jones Industrial Average also saw increases of 0.8% and 1%, respectively.
The company's CFO, Rahul Ghai, noted that GE's aerospace sector has been performing well and that the renewables and power sectors are on track. This robust performance is expected to contribute towards the higher end of GE's third-quarter earnings per share (EPS) and free cash flow guidance. The projected third-quarter EPS ranges between 45 cents and 55 cents, with Wall Street analysts predicting the upper limit of this range.
The free cash flow for the third quarter of last year stood at approximately $1.2 billion, while projections for this year's third quarter are around $900 million. This positive outlook has been a significant factor in the recent surge in GE's share price.
In terms of restructuring, GE has provided updates on its plan to spin off its power generation business, GE Vernova. The company aims for Vernova to become independent in early 2024, starting its operations with more cash than debt and an investment-grade credit rating.
Post-separation, three businesses will emerge: GE Aerospace led by Larry Culp, GE Vernova under the leadership of Scott Strazik, and GE HealthCare Technologies managed by Peter Arduini. It's worth noting that GE HealthCare has already become an independent entity following its separation in early 2023.
Once the restructuring of General Electric is completed, it is anticipated that the three remaining businesses will maintain investment-grade credits and possess strong franchises within their respective industries. This strategic move is expected to streamline operations and enhance the company's focus on its core sectors.
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Time to Buy Calls on General Electric (GE) Stock
By: Schaeffer's Investment Research | August 16, 2023
• GE's post-earnings pullback found familiar support on the charts
• GE options are affordably priced at the moment
The shares of General Electric Co (NYSE:GE) suffered a post-earnings pullback to their 30-day moving average last week, the same area that offered strong entry points throughout 2023. Despite this pullback the stock is still trading above its pre-earnings close. What’s more, implied volatility (IV) is back in line with GE’s historical volatility (HV). In June and July, IV was above HV, making now a more attractive time for options buyers to play the trend relative to the last few months.
Leading up to the late-July earnings report, options buyers were more pessimistic than they had been in the past three months. At-the-money IV is now lower than 98% of readings from the past year, according to TradeAlert. Plus, the positive earnings move pushed General Electric stock above its 10-year moving average at $110 -- a mark where the shares paused for more than three weeks before earnings.
From October 2022 through May 2023, the equity regularly appeared on a major brokerage’s “net sold during the month” monthly report. Even still, amid its 75% year-to-date lead and 86% year-over-year return, only 13 of 21 analysts rate GE a “buy” or better, and the only brokerage action since late April was a downgrade. This leaves plenty of room for pessimism to unwind and add tailwinds.
Our recommended December call has a leverage ratio of 7.1 and will double on a 14.9% pop in the underlying stock.
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$GE is the top new buy of Stanley Druckenmiller in Q2
By: HedgeMind | August 15, 2023
• $GE is the top new buy of Stanley Druckenmiller in Q2.
The new position represents ~10% of total purchases he made in the quarter & his 3rd largest purchase overall.
$GE traded in a price range of $93 & $110 during Q2 w/ an avg. price of ~$100.
$GE up 77% YTD.
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General Electric (GE) Stock Could Continue Higher
By: Schaeffer's Investment Research | August 10, 2023
• GE pulled back to a historically bullish trendline on the charts
• GE recently hit a five-year high
General Electric Co (NYSE:GE) has been steadily climbing on the charts this year, up 73.6% year-to-date. The stock recently hit a July 25 five-year high of $117.96, though it's pulled back slightly since then. Support at its 40-day moving average has guided the stock higher since the start of the year, and GE is now within one standard deviation of this trendline once again.
According to Schaeffer's Senior Quantitative Analyst Rocky White, GE has run into this trendline three times in the past three years, after which the stock was higher two of the times, averaging a 3.5% gain.
That said, speculating on GE's next move with options could be a prudent play. The stock's Schaeffer's Volatility Index (SVI) of 23% stands higher than just 13% of all other readings in its annual range, implying that options players are pricing in relatively low volatility expectations at the moment.
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General Electric (GE) shares downgraded at Oppenheimer on valuation
By: Investing.com | July 31, 2023
General Electric (NYSE:GE) stock received a downgrade today after Oppenheimer analysts moved to Perform from Outperform.
The downgrade call appears to be fueled by valuation concerns, with the analysts highlighting the +35% rally since they upgraded the stock back in December.
“Our pivot to Perform could be conservative if markets afford 16-17x+ on Aviation (as we sometimes hear suggested), or perhaps 10x+ GEV (do not hear much), neither unreasonable, given singularity of the Aviation asset quality and potential longer-term profitability curve for GEV (vs. interim repositioning and developmental business structures),” they said in a downgrade note.
“We view downside protection as formidable, given singularity of the Aerospace asset; and long-term demand/competitive stability prospects for turned/turning-around GEV assets.”
Shares rose last week after the company raised its 2023 outlook for organic sales and earnings per share.
The stock is up 75% year-to-date.
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General Electric (GE) Price Target Raised to $130.00 at Argus
By: MarketBeat | July 26, 2023
• General Electric (NYSE:GE) had its price target raised by research analysts at Argus from $112.00 to $130.00 in a note issued to investors on Wednesday, FlyOnTheWall reports. Argus' price objective suggests a potential upside of 13.32% from the company's previous close...
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General Electric $GE climbs to its highest price since January 2018. Shares are up 133% since October 12, 2022.
By: Barchart | July 25, 2023
• General Electric $GE climbs to its highest price since January 2018. Shares are up 133% since October 12, 2022.
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General Electric (GE) Stock Hits 5-Year High After Earnings
By: Schaeffer's Investment Research | July 25, 2023
• General Electric posted strong second-quarter results and lifted its full-year forecast
• Year-to-date, GE is up roughly 77%
General Electric Co (NYSE:GE) is trading at fresh five-year highs today, after the company posted better-than-expected second-quarter results and raised its full-year forecast, with help from strong demand for its aerospace unit. At last glance, GE was up 5.2% at $115.96, and earlier hit a peak of $117.96. Year-to-date, the outperforming stock is carrying a 76.9% gain.
So far in the options pits today, 16,000 calls and 9,531 puts have been exchanged, which is eight times the amount typically seen at this point. The weekly 7/28 120-strike call is the most popular, followed by the 117-strike call in the same series, with new positions being opened at both.
Analysts have yet to chime in after the results. Of the 15 in coverage, four still carry a "hold" rating despite the stock's rally over the past few weeks. The 12-month consensus price target of $112.54 is now a slim discount to current levels, leaving room for potential price-target hikes as well.
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GE rides aviation boom to lift 2023 profit forecast
By: Investing.com | July 25, 2023
(Reuters) -General Electric Co on Tuesday raised its full-year profit outlook after quarterly earnings topped Wall Street estimates on robust demand for jet engine spare parts and services from airlines looking to cash in on surging air travel.
The company's shares were up about 4% in pre-market trade.
In an interview, CEO Larry Culp said the company has not seen any signs of softening in demand despite rising interest rates.
"We feel very good about the demand that we see broadly," he said.
A faster-than-expected recovery in aviation from pandemic lows has lifted results of engine makers as shortages of commercial planes have forced airlines to use old jets for longer, boosting demand for lucrative aftermarket services.
GE's aerospace unit, which makes engines for jets of Boeing (NYSE:BA) Co and Airbus, posted double-digit growth in orders, revenue, and operating profit from a year earlier. Its services revenue was up 31% in the second quarter from a year ago. Services accounted for 70% of the unit's revenue last year.
The company also reported growth in deliveries of LEAP engines, which it produces in a joint venture with France's Safran (EPA:SAF).
Culp said while supply-chain constraints are improving, the company needs to do more to keep up with "unprecedented" production ramp-up at Boeing and Airbus. He reaffirmed the company's forecast to deliver 1,700 LEAP engine units this year.
GE is also seeing moderation in cost pressures, he said. Its aerospace unit will carry out a price increase for parts in August, Culp added.
The Boston-based company now expects 2023 adjusted profit per share of $2.10 to $2.30, compared with its previous forecast of $1.70 to $2.00. The outlook compares with analysts' consensus earnings estimate of $2.06 per share for 2023, according to a Refinitiv survey.
Free cash flow for the year is estimated to be in a range of $4.1 billion to $4.6 billion, up from $3.6 billion to $4.2 billion expected previously.
GE said operating profit at its aerospace business was now expected to be in a range of $5.6 billion to $5.9 billion this year, up from $5.3 billion to $5.7 billion estimated earlier.
In a sign of improvement at its renewable energy business, the company said the unit was expected to post stronger revenue than its previous estimate, translating into "significantly" better operating profit in 2023.
GE's adjusted profit for the June quarter came in at 68 cents per share, compared with a profit of 46 cents per share estimated by analysts in a Refinitiv survey.
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Moody Lynn & Lieberson LLC Purchases New Holdings in General Electric (GE)
By: MarketBeat | July 21, 2023
• Moody Lynn & Lieberson LLC purchased a new stake in shares of General Electric (NYSE:GE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,487 shares of the conglomerate's stock, valued at approximately $2,628,000...
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Earnings Preview: General Electric Co. (NYSE: GE)
By: 24/7 Wall St. | July 21, 2023
• These four companies, including one Dow Jones industrial, are on deck to report quarterly results first thing Tuesday morning.
General Electric
Over the past 12 months, shares of General Electric Co. (NYSE: GE) have added nearly 64%, including a jump of nearly 33% for the year to date. Investors have prospered from the company’s spin-off of its healthcare business. The big issue now is the coming spin-off of the remaining energy business. What will be left behind is GE’s aviation business, and that will be the new GE.
Analysts remain bullish on the stock. There are 13 Buy or Strong Buy ratings, along with seven Hold ratings, among the 20 brokerages covering it. At a recent share price of around $111.00, the stock is close to its median price target of $111.50. At the high target of $130.00, the upside potential is 17%. The planned spin-off of the energy business is not expected to fetch the premium that followed the split with GE’s healthcare business.
First-quarter revenue is forecast at $15.15 billion, which would be up 4.6% sequentially but down 18.8% year over year. Adjusted EPS are forecast at $0.46, up 70% sequentially and down 41% year over year. For the full 2023 fiscal year, analysts expect GE to report EPS of $2.05, down 21.8%, on sales of $63.06 billion, down 17.6%. Second-quarter numbers for the prior quarter and the prior year include healthcare operations that were spun off in January 2023.
GE stock trades at 54.2 times expected 2023 EPS, 27.6 times estimated 2024 earnings of $4.02 and 20.8 times estimated 2025 earnings of $5.34 per share. Its 52-week range is $61.88 to $112.15, and GE pays an annual dividend of $0.32 (yield of 0.29%). Total shareholder return for the past 12 months was 109.69%.
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Earnings Ahead for Outperforming General Electric (GE) Stock
By: Schaeffer's Investment Research | July 21, 2023
• General Electric will report second-quarter earnings before the bell on Tuesday
• The stock has an upbeat post-earnings history over the past 2 years
General Electric Co (NYSE:GE) is throwing its hat into the earnings ring before the open on Tuesday, July 25, in which analysts expect the company to post second-quarter profits of 46 cents per share. Over the past two years, GE has turned in positive post-earnings sessions in five of the last eight reports. The stock has averaged a 3.4% next-day move, regardless of direction, which is lower than the 5.4% the options pits are pricing in this time around.
On the charts, General Electric stock has been rallying with help from its 40-day moving average. Fresh off a July 17 five-year peak of $112.15, the equity is up 70.8% year-to-date. At last glance today, the stock was trading flat at $111.24.
Options bulls have been chiming in on the outperformance. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), GE's 50-day call/put volume ratio of 1.48 ranks higher than 96% of readings from the past year.
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Yup! GE is doing well since the beginning of the year. Wish I had some!
Don't Miss General Electric (GE) Stock's Next Ride Higher
By: Schaeffer's Investment Research | June 21, 2023
• If you skipped GE's last rally, now could be your chance
• GE boasts an impressive 104.1% year-over-year lead
General Electric Co (NYSE:GE) stock has been chopping higher on the charts, last seen up 0.5% at $104.58. The security boasts an impressive 104.1% year-over-year lead, and scored a June 16, five-year high of $108.90. Investors that missed this last rally could soon have another opportunity to ride GE's next move higher, as it is now trading within striking distance of a trendline with historically bullish implications.
According to Schaeffer's Senior Quantitative Analyst Rocky White, General Electric stock is currently within one standard deviation of its 40-day moving average. Over the past three years, shares have seen three similar signals, and were positive one month later 67% of the time, averaging a 3.5% pop. A move of comparable magnitude would put GE back above $108.
Now looks like an ideal time to bet on General Electric stock's next move higher, as it boasts affordably priced premiums. More specifically, the security's Schaeffer's Volatility Index (SVI) of 26% ranks at the extremely low 12th percentile of readings from the past year.
It's worth noting GE's Schaeffer's Volatility Scorecard (SVS) sits at 80 out of 100. In other words, the equity has generally exceeded options traders' volatility expectations over the past 12 months.
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General Electric (GE) Shares Sold by Park National Corp OH
By: MarketBeat | June 16, 2023
• Park National Corp OH decreased its holdings in shares of General Electric (NYSE:GE) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,668 shares of the conglomerate's stock after selling 2,412 shares during the period. Park National Corp OH's holdings in General Electric were worth $4,461,000 at the end of the most recent quarter...
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General Electric to sell over $2 billion stake in GE HealthCare
By: Investing.com | June 5, 2023
(Reuters) - General Electric (NYSE:GE) Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing on Monday.
Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley (NYSE:MS), GE HealthCare said in the filing.
?Evercore ISI, Morgan Stanley, BofA Securities, Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) are joint lead book-runners for the offering.
GE HealthCare made its Nasdaq debut earlier this year after completing its spin-off from GE.
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Front Street Capital Management Inc. Takes $22.66 Million Position in General Electric (GE)
By: MarketBeat | May 24, 2023
• Front Street Capital Management Inc. acquired a new stake in General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 270,486 shares of the conglomerate's stock, valued at approximately $22,664,000. General Electric makes up approximately 5.1% of Front Street Capital Management Inc.'s holdings, making the stock its 6th largest position...
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GE Big bounce off the 21 EMA once again today as buyers continue to step up in this area...
By: TrendSpider | May 15, 2023
• $GE Big bounce off the 21 EMA once again today as buyers continue to step up in this area...
Keep it simple!
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$GE General Electric sees with its first insider sales in over a year, totaling $18,000,000.
By: TrendSpider | May 13, 2023
• $GE General Electric sees with its first insider sales in over a year, totaling $18,000,000.
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General Electric (GE) Shares Sold by Nwam LLC
By: MarketBeat | May 4, 2023
• Nwam LLC lowered its position in General Electric (NYSE:GE) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,986 shares of the conglomerate's stock after selling 3,229 shares during the period. Nwam LLC's holdings in General Electric were worth $4,524,000 as of its most recent filing with the Securities & Exchange Commission...
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$GE Solid breakout continuation this month, now testing the 2016 high anchored VWAP for the first time in over a year.
By: TrendSpider | April 22, 2023
• $GE Solid breakout continuation this month, now testing the 2016 high anchored VWAP for the first time in over a year.
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Earnings Preview: General Electric (GE)
By: 24/7 Wall St. | April 21, 2023
General Electric
Over the past 12 months, shares of General Electric Co. (NYSE: GE) have added more than 9%. On Thursday, the stock broke through the $100 per share barrier for the first time in five years. The stock price has nearly doubled in the past six months and has risen more than 50% so far in 2023. The successful spin-off of its health care business will be followed early next year by the spin-off of its energy business, leaving the booming aerospace division as the new GE.
Analysts remain bullish on the stock. There are 16 Buy or Strong Buy ratings, along with four Hold ratings, among the 20 brokerages covering the stock. At a recent price of around $100.00 a share, the potential upside to a median price target of $104.00 is 4%. At the high target of $120.00, the upside potential is 20%.
First-quarter revenue is forecast at $13.46 billion, which would be down 38.2% sequentially and 21.0% lower year over year. Adjusted EPS are forecast at $0.14, down 89% sequentially and by 41.7% year over year. For the full 2023 fiscal year, analysts expect GE to report EPS of $1.98, down 24.3%, on sales of $62.81 billion, down 18%. First-quarter numbers for the prior quarter and the prior year include health care operations that were spun off in January.
GE stock trades at 50.4 times expected 2023 EPS, 25.1 times estimated 2024 earnings of $3.97 and 19.2 times estimated 2025 earnings of $5.20 per share. The stock’s 52-week trading range is $59.93 to $100.47, and GE pays an annual dividend of $0.32 (yield of 0.32%). Total shareholder return for the past 12 months was 40.7%.
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Call Traders Score Huge Profit on General Electric (GE) Stock
By: Schaeffer's Investment Research | April 21, 2023
• A bullish position on General Electric (GE) netted traders a 209% profit
• This profit took place in around three trading days
Last week, subscribers to our Expiration Week Countdown service scored a 209% profit on our recommended General Electric Company (NYSE:GE) April 21, 95-strike call recommendation. Below, we'll unpack the reasoning for the bullish stance on the former Dow stock.
At the time of this recommendation on Sunday, April 16, GE was breaking higher from a retracement back to an uptrend line and support area around the $93-$94 area. The shares' 80-unit moving average on the hourly chart was stepping up as support. Despite the favorable technical setup, TD Ameritrade client's were net sellers over the previous two months, so an unwinding of these bearish bets could help the shares higher.
General Electric stock's relative strength index (RSI) on the charts also confirmed a move out of a short-term consolidation zone.
In the span of a week, GE added 4.6%, culminating in a new record high of $100.80 on Thursday. One day prior, we closed 100% of the position, allowing subscribers to more than triple their money in the span of three trading days.
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$GE General Electric with the mother-of-all falling wedge breakouts in March, this one could just be getting started!
By: TrendSpider | April 3, 2023
• $GE General Electric with the mother-of-all falling wedge breakouts in March, this one could just be getting started!
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Douglas Lane & Associates LLC Boosts Stock Position in General Electric (GE)
By: MarketBeat | March 23, 2023
• Douglas Lane & Associates LLC raised its position in shares of General Electric (NYSE:GE) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,006,310 shares of the conglomerate's stock after buying an additional 102,568 shares during the quarter. General Electric comprises about 1.4% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 21st largest holding. Douglas Lane & Associates LLC owned approximately 0.09% of General Electric worth $84,319,000 at the end of the most recent reporting period...
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$GE Opening OTM sweepers in 05/19 $100 CALLS
By: Money Flow Mel | March 23, 2023
• $GE Opening OTM sweepers in 05/19 $100 CALLS.
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General Electric Co. (GE) Nailed their investor day. Maintained guidance and making money now
By: Options Mike | March 12, 2023
• $GE nailed their investor day. Maintained guidance and making money now.
Tough chase up here, at least let the 8D catch up.
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