The recent actions of General Electric (GE) have seen the company through a significant rise and fall. Having split into three public entities, an aerospace business as well as GE Vernova and GE Aerospace have been launched. In response, a 35% rise in stock prices has led to an increase in institutional ownership. Furthermore, following an adjustment in Q1 2024, GE's profit increased due to higher revenues, marking its estimated intrinsic value underpriced by 28%. Developments continue with GE Vernova scheduled for a spin-off in April 2024. Recently, the heavy institutional ownership, which stands at 76%, played a role in the company's stock continuing to impress, and the aerospace division showing promising signs of progress.
The company has announced its Q4 2023 earnings and the forecast for its Q1 2024 has been released, unfortunately disappointing many, causing shares to fall. However, GE's shareholder returns have remained impressive with earnings of 179% in 5 years. A proposition of $15 billion for stock buyback by GE Aerospace has emerged as plans for GE Vernova to go public are announced to take place in April.
Lastly, the iconic company seems to have managed its debt with ease as GE Vernova announces a major partnership with Squadron Energy in Australia for onshore wind projects - a positive for the company's 'green' agenda. Notably, GE posted strong 2023 earnings marked by substantial profit and free cash flow.
General Electric Company GE News Analytics from Fri, 15 Sep 2023 07:00:00 GMT to Tue, 07 May 2024 10:21:27 GMT - Rating 7 - Innovation 5 - Information 6 - Rumor -4
