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

General Electric (NYSE:GE) updated its FY 2024 earnings guidance on Tuesday. 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 Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of General Electric from $200.00 to $165.00 and set an overweight rating on the stock in a report on Thursday, April 4th. Barclays cut their price objective on shares of General Electric from $181.00 to $175.00 and set an overweight rating on the stock in a report on Wednesday, April 3rd. Jefferies Financial Group cut their price objective on shares of General Electric from $195.00 to $180.00 and set a buy rating on the stock in a report on Wednesday, April 10th. StockNews.com assumed coverage on shares of General Electric in a report on Sunday. They set a hold rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of General Electric from $180.00 to $148.00 and set an overweight rating on the stock in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $160.07.

General Electric Stock Up 5.8 %

NYSE:GE traded up $8.71 during trading hours on Tuesday, hitting $158.90. The stock had a trading volume of 8,527,860 shares, compared to its average volume of 7,998,093. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. General Electric has a 1-year low of $76.87 and a 1-year high of $160.02. The business has a 50 day simple moving average of $159.52 and a two-hundred day simple moving average of $135.03. The company has a market cap of $173.72 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that General Electric will post 3.76 EPS for the current year.

General Electric Increases Dividend

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

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were 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 $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,843,615.55. Following the completion of 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. Corporate insiders own 0.66% of the company’s stock.

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.