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

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

General Electric Stock Performance

NYSE:GE traded up $2.07 on Thursday, hitting $161.26. The company’s stock had a trading volume of 5,515,880 shares, compared to its average volume of 8,135,719. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. General Electric has a one year low of $76.87 and a one year high of $163.65. The stock has a fifty day moving average of $160.45 and a two-hundred day moving average of $135.73. The firm has a market capitalization of $176.30 billion, a P/E ratio of 52.87, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts predict 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 will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. StockNews.com began coverage on General Electric in a research note on Sunday. They issued a hold rating for the company. Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a buy rating and a $160.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $210.00 to $190.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Barclays cut their price objective on shares of General Electric from $181.00 to $175.00 and set an overweight rating for the company in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the company a buy rating in a research note on Wednesday. Two investment 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 stock currently has a consensus rating of Moderate Buy and a consensus target price of $170.00.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the firm’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 transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now 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 the firm’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 disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.