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published in Blogs
Aug 16, 2019

General Electric (GE, $8.56) shares climb on CEO Larry Culp's $2 million stock purchase

Following whistleblower Harry Markopolos’ allegations that General Electric is “a bigger fraud than Enron”, GE CEO Larry Culp purchased $2 million worth of shares in the group.

Filings with the Securities and Exchange Commission from late Thursday reveal that Culp bought 252,000 GE shares at $7.93 each yesterday, as the stock plummeted on a Wall Street Journal report that Harry Markopolos has pointed out what he considers fraudulent financial statements from GE.

Markopolos is an accounting expert who had in the past taken the lid off Bernie Madoff's investment fraud. According to Markopolos, GE’s insurance unit would need an $18.5 billion boost to its reserves. His report also mentions that GE’s accounting irregularities would amount to around $38 billion – which is around 40% of the company’s market cap.

However, responding to Markopolos’ allegations at GE, Culp said in a statement, “GE will always take any allegation of financial misconduct seriously. But this is market manipulation – pure and simple”. He further added, “Mr. Markopolos’s report contains false statements of fact and these claims could have been corrected if he had checked them with GE before publishing the report.”

Following reports of Culp’s purchase of GE shares, the stock climbed more than +5% Friday.

 

Related Ticker: GE

Aroon Indicator for GE shows an upward move is likely

GE's Aroon Indicator triggered a bullish signal on October 21, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 353 similar instances where the Aroon Indicator showed a similar pattern. In of the 353 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where GE's RSI Indicator exited the oversold zone, of 17 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 57 cases where GE's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

GE moved above its 50-day moving average on November 06, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GE advanced for three days, in of 325 cases, the price rose further within the following month. The odds of a continued upward trend are .

GE may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on October 22, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on GE as a result. In of 94 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for GE turned negative on October 03, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 55 similar instances when the indicator turned negative. In of the 55 cases the stock turned lower in the days that followed. This puts the odds of success at .

The 10-day moving average for GE crossed bearishly below the 50-day moving average on November 01, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where GE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 68, placing this stock better than average.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. GE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (10.050) is normal, around the industry mean (6.898). P/E Ratio (34.568) is within average values for comparable stocks, (48.753). Projected Growth (PEG Ratio) (1.696) is also within normal values, averaging (1.742). Dividend Yield (0.005) settles around the average of (0.015) among similar stocks. P/S Ratio (2.772) is also within normal values, averaging (4.305).

Notable companies

The most notable companies in this group are GE Aerospace (NYSE:GE), Lockheed Martin Corp (NYSE:LMT), Boeing Company (NYSE:BA), Northrop Grumman Corp (NYSE:NOC), Spirit Aerosystems Holdings (NYSE:SPR), Virgin Galactic Holdings (NYSE:SPCE).

Industry description

Aerospace & Defense is one of largest industries in the U.S., mainly comprising the following areas: commercial airliners, military aircraft, missiles, space, and general aviation. Focused heavily on research & development, it is also one of the fastest growing industries. Military aircraft has the largest market share in the industry’s sales, followed by space systems, civil aircraft, and missiles. Aerospace exports, directly and indirectly, support more jobs than the export of any other commodity, according to a study by the U.S. Department of Commerce. Boeing Company, Lockheed Martin Corporation and General Electric Company are some of the most prominent players in this space.

Market Cap

The average market capitalization across the Aerospace & Defense Industry is 14.56B. The market cap for tickers in the group ranges from 1.66K to 195.64B. GE holds the highest valuation in this group at 195.64B. The lowest valued company is ASDN at 1.66K.

High and low price notable news

The average weekly price growth across all stocks in the Aerospace & Defense Industry was 0%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was 10%. HWKE experienced the highest price growth at 29%, while LILM experienced the biggest fall at -52%.

Volume

The average weekly volume growth across all stocks in the Aerospace & Defense Industry was -16%. For the same stocks of the Industry, the average monthly volume growth was 198% and the average quarterly volume growth was 337%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 67
Price Growth Rating: 52
SMR Rating: 76
Profit Risk Rating: 68
Seasonality Score: 14 (-100 ... +100)
Related Portfolios: AEROSPACE PRODUCTS & SERVICES
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GE
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General Information

a manufacturer of products for the generation, transmission, distribution, control and utilization of electricity; manufactures aircraft engines and medical equipment

Industry AerospaceDefense

Profile
Fundamentals
Details
Industry
Industrial Conglomerates
Address
One Financial Center
Phone
+1 617 443-3000
Employees
125000
Web
https://www.geaerospace.com
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