Analyzing General Electric Company (GE) After Recent Trading Activity


In a filing, General Electric Company revealed its Senior Vice President Holston Michael J unloaded Company’s shares for reported $12.97 million on Jul 27. In the deal valued at $115.20 per share,112,614 shares were sold. As a result of this transaction, Holston Michael J now holds 57,923 shares worth roughly $ 6.54 million.

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Then, GENERAL ELECTRIC PENSION TRUST bought 35,160 shares, generating $35,000,000 in total proceeds. Upon buying the shares at $995.44, the 10% Owner now owns 175,160 shares.

Before that, Holston Michael J sold 58,292 shares. General Electric Company shares valued at $6,102,007 were divested by the Senior Vice President at a price of $104.68 per share. As a result of the transaction, Holston Michael J now holds 70,537 shares, worth roughly $7.96 million.

Oppenheimer downgraded its General Electric Company [GE] rating to a Perform from a an Outperform in a research note published on Tuesday.

Price Performance Review of GE

On Tuesday, General Electric Company [NYSE:GE] saw its stock fall -1.19% to $112.88. On the same session, the stock had its day’s lowest price of $112.31, but rose to a high of $114.19. Over the last five days, the stock has lost -0.95%. General Electric Company shares have risen nearly 72.64% since the year began. Nevertheless, the stocks have risen 97.94% over the past one year. While a 52-week high of $117.96 was reached on 07/25/23, a 52-week low of $48.29 was recorded on 01/03/23. SMA at 50 days reached $111.82, while 200 days put it at $92.80. A total of 3.52 million shares were traded, compared to the trading of 3.54 million shares in the previous session.

Levels Of Support And Resistance For GE Stock

The 24-hour chart illustrates a support level at 112.06, which if violated will result in even more drops to 111.25. On the upside, there is a resistance level at 113.94. A further resistance level may holdings at 115.01. The Relative Strength Index (RSI) on the 14-day chart is 50.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.88, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.38%. Stochastics %K at 66.67% indicates the stock is a holding.

How much short interest is there in General Electric Company?

A steep rise in short interest was recorded in General Electric Company stocks on Aug 14, 2023, dropping by -1.1 million shares to a total of 12.79 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 13.89 million shares. There was a decline of -8.6%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.18% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.5.

General Electric Company [GE] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 92,560,364 shares, or roughly 8.50% of the outstanding GE shares. In other words, the investor’s shares have fallen by -11,755,741 from its previous 13-F filing of 104316105.0. Additionally, The Vanguard Group, Inc. increased 0.20% of its stake after which the total value it holdings stand at $9,540,530,375, while Capital Research & Management Co added 0.29% of its stake to hold $6.2 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 1,717,793 shares of General Electric Company, while BlackRock Fund Advisors bought 2,813,753 shares. At present, Fidelity Management & Research Co is holding 47,598,522 shares valued at $5.44 billion. TCI Fund Management Ltd. owned 41,650,076 shares of the company at the time of its most recent 13F filing, worth $4.76 billion.

According to FactSet, General Electric Company’s share price will average $128.61 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.67 percent from its previous closing price of $114.24. Analysts expect General Electric Company stock to reach the higher price of $140.00, while the lowest price estimate is $110.00. However, 20 analysts have rated GE stock as an Overweight in their predictions for 2023.


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