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

General Electric (NYSE:GE) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 -.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Vertical Research began coverage on General Electric in a research report on Thursday, April 4th. They set a buy rating and a $160.00 price objective on the stock. TD Cowen upgraded shares of General Electric from a hold rating to a buy rating and raised their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Citigroup raised their price objective on General Electric from $120.43 to $186.00 and gave the company a buy rating in a research report on Thursday. Jefferies Financial Group cut their price target on shares of General Electric from $195.00 to $180.00 and set a buy rating for the company in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a buy rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has a consensus rating of Moderate Buy and a consensus price target of $170.00.

General Electric Trading Up 0.7 %

GE traded up $1.06 during mid-day trading on Friday, hitting $162.32. The stock had a trading volume of 964,591 shares, compared to its average volume of 8,048,973. The firm has a market capitalization of $177.68 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. The stock’s fifty day simple moving average is $160.45 and its 200-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 1-year low of $77.28 and a 1-year high of $163.65.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion during 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. As a group, research analysts forecast that General Electric will post 3.95 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. 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%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Insider Buying and Selling

In related 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 transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by company 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.