General Electric (NYSE:GE – Get Free Report) released its quarterly earnings data on Tuesday. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17, RTT News reports. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the previous year, the business posted $0.27 earnings per share. The company’s revenue for the quarter 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 Stock Down 2.1 %
GE stock opened at $159.19 on Thursday. The company has a market cap of $174.04 billion, a PE ratio of 52.19, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29. The business has a 50-day simple moving average of $160.20 and a 200 day simple moving average of $135.55. General Electric has a 52 week low of $76.87 and a 52 week high of $163.65. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.
General Electric Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is 36.72%.
Analysts Set New Price Targets
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Insider Activity at General Electric
In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the senior vice president now directly 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. 0.66% of the stock is owned by 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.
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