Why is GE stock so high? (2024)

Why is GE stock so high?

Investors liked the look of the company's ongoing earnings and its forthcoming spinoff, GE Vernova. Shares of industrial giant General Electric (GE 1.49%) soared by 18.5% in February, according to data from S&P Global Market Intelligence.

Why is General Electric stock going up so much?

In 2023, GE earnings surged 264% as revenue grew 17%, capped off by a solid fourth quarter, according to the company's 2023 Annual Report. Its aerospace business drove results while renewable energy and power both improved performance. While Q4 earnings beat, the company's 2024 guidance fell short of expectations.

What will happen to GE stock after spinoff?

Holders of GE common stock will receive one share of GE Vernova common stock for every four shares of GE common stock held as of the close of business on the record date, March 19, 2024. Following the spin-off, GE Vernova will become an independent, publicly traded company.

Is GE a good stock to buy right now?

GE Aerospace has a conensus rating of Strong Buy which is based on 14 buy ratings, 2 hold ratings and 0 sell ratings. The average price target for GE Aerospace is $169.93. This is based on 16 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

Is GE stock going to split?

General Electric (GE) will move forward as three independent businesses starting today. The company is splitting its energy division into GE Vernova under the “GEV” ticker, while GE Aerospace continues using the “GE” ticker. GE's third division, GE Healthcare, actually fractured into its own company in 2023.

Who owns most of General Electric stock?

General Electric is a major provider of power generation, renewable energy, aviation, and other industries. The largest shareholders in General Electric are asset managers, like Vanguard and BlackRock. The largest individual investors are company insiders, like executives and directors.

Should I sell my GE stock before the reverse split?

Selling before a reverse stock split is a good idea, but selling after the reverse stock split is not. Since you can sell before and after a reverse stock split, selling during one is optional. The main advantage of selling before the reverse stock split is that you don't have to wait around for it to happen.

What happens if I own GE stock?

Those who own GE's stock as of March 19 will receive one share of GE Vernova's common stock for every four shares of GE they own. That distribution is expected to occur before the market opens on April 2, at 9:30 a.m. Eastern time.

What will GE stock be worth in 5 years?

What will GE shareholders get?

The distribution is intended to be tax-free to GE shareholders for U.S. federal income tax purposes. As of March 19 (record date), GE shareholders will receive one share of GE Vernova for every four shares of GE owned.

Is GE a long term buy?

GE Signals & Forecast

The General Electric stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average.

What is the GE dividend forecast for 2024?

GE Aerospace expects to generate more than $5 billion in 2024 free cash flow, which implies more than $3.7 billion to distribute. The payout of 28 cents a share will amount to about $300 million.

What was the highest for GE stock?

Historical daily share price chart and data for GE Aerospace since 1962 adjusted for splits and dividends. The latest closing stock price for GE Aerospace as of April 19, 2024 is 148.06. The all-time high GE Aerospace stock closing price was 203.57 on August 28, 2000.

How high will GE stock go?

GE stock price stood at $148.06

According to the latest long-term forecast, GE price will hit $200 by the end of 2024 and then $250 by the middle of 2026. GE will rise to $300 within the year of 2027, $350 in 2028, $400 in 2029, $450 in 2030 and $500 in 2032.

What is the future of GE?

The company plans to spin off its power and renewables business, as GE Vernova, in the second quarter of 2024. That will allow the "new GE," GE Aerospace, to emerge as a stand-alone company. GE's health care spinoff, GE HealthCare Technologies (GEHC), debuted on the Nasdaq in January.

What companies will GE split into?

General Electric completed its transition of splitting into three separate companies Tuesday, with GE Vernova, GE Aerospace, and GE Healthcare all trading under separate stock tickers.

Is General Electric owned by a Chinese company?

Is GE owned by a Chinese company? The Chinese company Haier had then bought the General Electric Appliances division for 5.4 billion dollars. Since 2016, the GE appliances are owned by Haier.

How many times did GE stock split?

General Electric stock (symbol: GE) underwent a total of 9 stock splits. The most recent stock split occured on January 4th, 2023.

Who did GE sell GE Capital to?

GE Capital Real Estate was sold to The Blackstone Group and Wells Fargo. The majority of GE Commercial Lending & Leasing was sold to Wells Fargo. Operations in Germany and France were sold to Crédit Mutuel. Operations in Australia were sold to Sankaty Advisors.

Has a reverse split ever worked?

Reverse Splits Aren't All Bad

There are examples of stocks that have prospered after doing so, including Citigroup (C). Citi probably had the most famous reverse split—a 1 for 10 reverse split in May 2011. Citi became a $40 stock and is now trading at $55.

Is a reverse split good or bad?

Reverse stock splits do not impact a corporation's value, although they usually are a result of its stock having shed substantial value. The negative connotation associated with such an act is often self-defeating as the stock is subject to renewed selling pressure.

What 3 companies is GE splitting into?

Is GE a safe stock?

The company has seen significant growth and margin gains in all its units, particularly in aerospace and renewables. While some experts believe it is a good long-term hold with strong potential for growth, others feel the current valuation is high.

How do I cash out my GE stock?

You can sell your Plan shares at any time by submitting a request to sell online, by telephone or through the mail (see Contact Information). A check will be issued for your sale proceeds, unless you elect to receive the funds by direct deposit into your bank account.

Why is GE a good investment?

Is General Electric Stock a Good Buy? Investors are bullish on General Electric stock right now due in part to its compelling guidance. According to consensus estimates, General Electric is forecast to increase revenue from $68 billion in 2023 to $78 billion in 2025.