General Electric (NYSE:GE - Get Free Report) will issue its earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.64 per share for the quarter. General Electric has set its Q1 guidance at $0.60-0.65 EPS and its Q1 2024 guidance at 0.600-0.650 EPS.Parties that wish to register for the company's conference call can do so using this link.
General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm had revenue of $19.42 billion for the quarter, compared to analysts' expectations of $17.27 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts expect General Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
General Electric Stock Performance
GE traded up $3.06 during trading hours on Tuesday, hitting $156.76. The stock had a trading volume of 6,168,009 shares, compared to its average volume of 8,028,076. General Electric has a 1 year low of $76.38 and a 1 year high of $158.68. The company's fifty day simple moving average is $158.14 and its 200 day simple moving average is $133.49. The stock has a market cap of $171.38 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.
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 is an increase from General Electric's previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. General Electric's dividend payout ratio (DPR) is presently 13.38%.
Insider Transactions at General Electric
In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company's stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the 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 $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares of the company's stock, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
Hedge Funds Weigh In On General Electric
Large investors have recently modified their holdings of the stock. Pettyjohn Wood & White Inc. boosted its stake in shares of General Electric by 3.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 3,056 shares of the conglomerate's stock worth $390,000 after acquiring an additional 102 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in General Electric by 4.3% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,612 shares of the conglomerate's stock worth $287,000 after acquiring an additional 107 shares in the last quarter. PYA Waltman Capital LLC raised its stake in General Electric by 4.0% during the 2nd quarter. PYA Waltman Capital LLC now owns 2,839 shares of the conglomerate's stock worth $328,000 after acquiring an additional 109 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of General Electric by 3.0% during the 4th quarter. Cornerstone Wealth Group LLC now owns 3,879 shares of the conglomerate's stock valued at $495,000 after buying an additional 113 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in General Electric by 1.0% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 11,272 shares of the conglomerate's stock worth $1,078,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on the stock. The Goldman Sachs Group started coverage on shares of General Electric in a report on Tuesday, April 9th. They issued a "buy" rating and a $190.00 price objective for the company. Vertical Research began coverage on General Electric in a research report on Thursday, April 4th. They issued a "buy" rating and a $160.00 price target for the company. TD Cowen upgraded General Electric from a "hold" rating to a "buy" rating and boosted their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. StockNews.com started coverage on General Electric in a research note on Saturday. They issued a "hold" rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $210.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.07.
Read Our Latest Stock Analysis on GE
About General Electric
(
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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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