General Electric (NYSE:GE) Releases 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 -.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America decreased their target price on General Electric from $175.00 to $165.00 and set a buy rating on the stock in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $210.00 to $190.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Oppenheimer reiterated a market perform rating on shares of General Electric in a report on Tuesday, March 5th. JPMorgan Chase & Co. reduced their price target on General Electric from $180.00 to $148.00 and set an overweight rating on the stock in a report on Tuesday, April 2nd. Finally, Vertical Research began coverage on General Electric in a report on Thursday, April 4th. They set a buy rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $162.64.

General Electric Trading Down 3.2 %

Shares of NYSE:GE traded down $5.14 during midday trading on Wednesday, reaching $157.48. 6,198,002 shares of the company’s stock were exchanged, compared to its average volume of 8,112,437. The stock has a market cap of $172.17 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 2.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $159.94 and its two-hundred day simple moving average is $135.39. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65.

General Electric (NYSE:GE) last posted its earnings results 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 analysts’ expectations of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, sell-side analysts forecast that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid 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 is Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.71%. General Electric’s payout ratio is presently 13.38%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was 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 in the company, valued at $6,552,351.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the company’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 value 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 company 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.