General Electric (NYSE:GE) Issues FY 2024 Earnings Guidance

General Electric (NYSE:GE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.800-4.050 for the period, compared to the consensus earnings per share estimate of 3.950. The company issued revenue guidance of -.

General Electric Stock Performance

Shares of GE stock traded up $1.06 during trading on Friday, reaching $162.32. The company had a trading volume of 964,591 shares, compared to its average volume of 8,048,973. The firm’s 50 day simple moving average is $160.45 and its two-hundred day simple moving average is $135.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.85. General Electric has a one year low of $77.28 and a one year high of $163.65. The company has a market capitalization of $177.68 billion, a PE ratio of 52.79, a PEG ratio of 2.99 and a beta of 1.29.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Sell-side analysts forecast that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the stock a buy rating in a report on Wednesday. StockNews.com started coverage on shares of General Electric in a report on Sunday, April 21st. They set a hold rating on the stock. Royal Bank of Canada raised their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Bank of America boosted their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a buy rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $170.00.

Insider Buying and Selling

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

About General Electric

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.