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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

GE's MACD Histogram just turned positive

The Moving Average Convergence Divergence (MACD) for GE turned positive on January 30, 2024. Looking at past instances where GE's MACD turned positive, the stock continued to rise in of 50 cases over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GE advanced for three days, in of 306 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 313 cases where GE Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 18 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

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 .

GE broke above its upper Bollinger Band on February 14, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

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 72, placing this stock better than average.

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 fairly steady price growth. GE’s price grows at a lower 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 (6.094) is normal, around the industry mean (4.810). P/E Ratio (19.214) is within average values for comparable stocks, (46.112). Projected Growth (PEG Ratio) (1.777) is also within normal values, averaging (2.166). Dividend Yield (0.002) settles around the average of (0.022) among similar stocks. P/S Ratio (2.480) is also within normal values, averaging (11.108).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average 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.

Notable companies

The most notable companies in this group are General Electric Company (NYSE:GE), Illinois Tool Works (NYSE:ITW), Ingersoll Rand (NYSE:IR), Generac Holdings (NYSE:GNRC).

Industry description

The industry makes and maintains machines for consumers, the industry, and most other companies. While it has traditionally been categorized as heavy industry, some smaller companies are also branching into the light category. The industry is pivotal in providing the equipment for production in businesses like agriculture, mining, industry and construction, gas, electricity and water utilities. It also supplies supporting equipment for almost all sectors of the economy, such as equipment for heating, and air conditioning of buildings. Illinois Tool Works Inc., Parker-Hannifin Corporation and Rockwell Automation Inc are some of the major U.S. companies operating in this industry.

Market Cap

The average market capitalization across the Industrial Machinery Industry is 8.49B. The market cap for tickers in the group ranges from 1.55K to 166.87B. GE holds the highest valuation in this group at 166.87B. The lowest valued company is XEBEF at 1.55K.

High and low price notable news

The average weekly price growth across all stocks in the Industrial Machinery Industry was -1%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was 2%. PGTK experienced the highest price growth at 35%, while MSBN experienced the biggest fall at -38%.

Volume

The average weekly volume growth across all stocks in the Industrial Machinery Industry was -67%. For the same stocks of the Industry, the average monthly volume growth was -60% and the average quarterly volume growth was -45%

Fundamental Analysis Ratings

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

Valuation Rating: 57
P/E Growth Rating: 63
Price Growth Rating: 49
SMR Rating: 64
Profit Risk Rating: 72
Seasonality Score: -33 (-100 ... +100)
Related Portfolios: AEROSPACE PRODUCTS & SERVICES
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GEDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

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

Industry IndustrialMachinery

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

Correlation & Price change

A.I.dvisor indicates that over the last year, GE has been loosely correlated with IR. These tickers have moved in lockstep 47% of the time. This A.I.-generated data suggests there is some statistical probability that if GE jumps, then IR could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To GE
1D Price
Change %
GE100%
+1.09%
IR - GE
47%
Loosely correlated
-0.31%
PH - GE
47%
Loosely correlated
+0.15%
ITT - GE
47%
Loosely correlated
+0.42%
AME - GE
47%
Loosely correlated
+0.03%
CR - GE
46%
Loosely correlated
-0.33%
More
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