General Electric (NYSE:GE) Releases 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 (EPS) guidance of 3.800-4.050 for the period, compared to the consensus estimate of 3.950. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of General Electric from $180.00 to $148.00 and set an overweight rating on the stock in a research report on Tuesday, April 2nd. TD Cowen upgraded shares of General Electric from a hold rating to a buy rating and boosted their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Jefferies Financial Group dropped their target price on shares of General Electric from $195.00 to $180.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. TheStreet raised shares of General Electric from a c+ rating to a b+ rating in a research report on Tuesday, January 23rd. Finally, Bank of America lowered their price objective on General Electric from $175.00 to $165.00 and set a buy rating for the company in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $160.07.

General Electric Stock Up 7.1 %

Shares of NYSE GE traded up $10.70 during mid-day trading on Tuesday, hitting $160.89. 9,121,787 shares of the stock traded hands, compared to its average volume of 8,002,762. The stock has a fifty day moving average price of $159.52 and a 200-day moving average price of $135.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The company has a market cap of $175.90 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.92 and a beta of 1.29. General Electric has a 52 week low of $76.87 and a 52 week high of $160.89.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the company earned $0.27 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that General Electric will post 3.76 EPS for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction 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 of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric 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 sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction 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 completion of the sale, the senior vice president now directly 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. Insiders own 0.66% of the company’s stock.

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.