General Electric (NYSE:GE – Get Free Report) posted its earnings results on Tuesday. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17, RTT News reports. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. General Electric updated its FY 2024 guidance to 3.800-4.050 EPS.
General Electric Stock Performance
Shares of General Electric stock opened at $161.26 on Friday. The firm has a fifty day moving average of $160.45 and a two-hundred day moving average of $135.73. The stock has a market capitalization of $176.52 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 2.99 and a beta of 1.29. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17.
General Electric Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s payout ratio is presently 36.72%.
Insider Buying and Selling at General Electric
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GE. StockNews.com began coverage on General Electric in a research report on Sunday, April 21st. They set a “hold” rating on the stock. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Wells Fargo & Company decreased their target price on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Finally, Citigroup lifted their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.00.
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.
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