General Electric (NYSE:GE) Issues Earnings Results

General Electric (NYSE:GE - Get Free Report) announced its earnings results on Tuesday. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17, RTT News reports. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The business's revenue was up 11.1% compared to the same quarter last year. General Electric updated its FY 2024 guidance to 3.800-4.050 EPS.

General Electric Trading Up 8.3 %

Shares of NYSE:GE traded up $12.43 during mid-day trading on Tuesday, reaching $162.62. The stock had a trading volume of 18,843,017 shares, compared to its average volume of 8,137,180. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a market cap of $177.79 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. The firm has a 50 day simple moving average of $159.52 and a two-hundred day simple moving average of $135.03. General Electric has a twelve month low of $76.87 and a twelve month high of $163.65.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, April 12th. This is a positive change from General Electric's previous quarterly dividend of $0.08. General Electric's dividend payout ratio (DPR) is 13.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TheStreet upgraded General Electric from a "c+" rating to a "b+" rating in a research note on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 3rd. StockNews.com started coverage on General Electric in a report on Sunday. They issued a "hold" rating for the company. Oppenheimer reaffirmed a "market perform" rating on shares of General Electric in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada cut their price target on General Electric from $180.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of "Moderate Buy" and a consensus price target of $160.07.

Insider Transactions at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of the business's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the firm's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.