Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Tuesday, February 15, 2022 7:04:25 PM
By: Barron's | February 15, 2022
General Electric stock is higher Tuesday. The market is up, as well, and upbeat company-specific Wall Street commentary is also helping. Bank of America analyst Andrew Obin wrote Tuesday that GE is making progress on “several fronts.”
GE (ticker: GE) stock is up 4.7% in midday trading. The S&P 500 and Dow Jones Industrial Average are up about 1.3% and 1%, respectively.
It’s a bigger-than-market move for the industrial conglomerate, and the reason for improving analyst sentiment is the annual report. GE filed its 2021 report on a form 10-K with the Securities and Exchange Commission this past Friday. Analysts have been studying the document for a couple of days.
“The 2021 10-K filing highlights GE’s progress in reducing legacy issues,” wrote Obin in a Tuesday report.
GE is ending the sales of its accounts receivable, a practice called factoring receivables that the company had used to bring in cash to the industrial operations. GE Chief Financial Officer Carolina Dybeck Happe has said GE became too reliant on factoring, and end-of-quarter billing in its management of cash and sales numbers. Ending factoring makes the company’s figures more transparent.
What’s more, retiree pension plans are now back above 80% funded on an accounting basis. That’s a healthy level of pension funding, and GE won’t have to contribute as much cash to bolster it.
Obin also pointed out that corporate costs are falling and, most important, the aviation recovery is on track. Aviation orders grew 19% year over year in 2021 and “drove backlog to exceed pre-Covid levels,” wrote the analyst.
He isn’t the first to comment on GE’s annual report. Wolfe Research analyst Nigel Coe wrote Monday there are “more green flags than red” in the annual report. He added the report shows how GE has morphed into a “normal” company. In the past, GE annual reports were more complicated.
Simplification seems to be doing the trick for GE stock Tuesday.
Coe and Obin, for their parts, both rate GE stock at Buy. Coe’s price target is $127, and Obin’s target is $132. Both are a more bullish than the average analyst. The average analyst price target for GE stock is $117 a share, implying gains of about 17% from recent levels.
Overall, about 71% of analysts covering GE rate shares at Buy. The average Buy-rating ratio for a stock in the S&P 500 is about 58%.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GE News
- GE Aerospace Board of Directors Authorizes Regular Quarterly Dividend • Business Wire • 09/13/2024 04:48:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 08:26:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 08:19:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 08:16:14 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/14/2024 12:32:12 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 08/06/2024 10:41:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 08:09:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 08:09:16 PM
- EVA Orders GEnx Engines to Power Boeing 787 Fleet Expansion • PR Newswire (US) • 07/24/2024 08:00:00 AM
- American Airlines Orders 180 CF34 Engines to Power New Embraer 175 Fleet • PR Newswire (US) • 07/23/2024 12:52:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/23/2024 10:28:10 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 10:22:14 AM
- U.S. Index Futures Dip Slightly as Investors Await Major Earnings Reports, Oil Prices Edge Up • IH Market News • 07/23/2024 10:04:07 AM
- British Airways Orders First GEnx Engines for New 787 Dreamliners • PR Newswire (US) • 07/22/2024 04:34:00 PM
- Japan Airlines Signs Deal for GEnx to Power New 787s • PR Newswire (US) • 07/22/2024 03:50:00 PM
- GE Aerospace and Kratos Partner on Small Affordable Engines • GlobeNewswire Inc. • 07/22/2024 09:00:00 AM
- GE Aerospace and Kratos Partner on Small Affordable Engines • PR Newswire (US) • 07/22/2024 09:00:00 AM
- GE Aerospace and U.S. Department of Energy Reach Agreement to Expand Supercomputing Capability for Revolutionary New Open Fan Engine Architecture • PR Newswire (US) • 07/21/2024 05:00:00 PM
- GE Aerospace investit un milliard USD pour agrandir et moderniser ses installations MRO dans le monde entier • Business Wire • 07/19/2024 03:56:00 PM
- GE Aerospace investe un miliardo di dollari per espandere e aggiornare le strutture di manutenzione, riparazione e revisione in tutto il mondo • Business Wire • 07/19/2024 03:54:00 PM
- GE Aerospace investiert 1 Milliarde US-Dollar in die Erweiterung und Modernisierung von MRO-Einrichtungen weltweit • Business Wire • 07/19/2024 01:34:00 PM
- GE Aerospace Investing $1 Billion to Expand and Upgrade MRO Facilities Worldwide • Business Wire • 07/19/2024 11:55:00 AM
- TRIUMPH AWARDED F404 AUXILIARY GEARBOX FROM GE AEROSPACE • PR Newswire (US) • 07/17/2024 01:00:00 PM
- GE Aerospace T901 Engines Accepted by U.S. Army for UH-60 Black Hawk Flight Testing • PR Newswire (US) • 06/28/2024 12:02:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM