General Electric (NYSE:GE) announced its quarterly earnings data on Friday. The conglomerate reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05, Bloomberg Earnings reports. The business had revenue of $28.66 billion for the quarter, compared to analyst estimates of $27.26 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. General Electric updated its FY18 guidance to $1.00-1.07 EPS.
Shares of NYSE:GE traded up $0.33 on Friday, hitting $13.99. The company had a trading volume of 87,631,907 shares, compared to its average volume of 89,269,859. General Electric has a 1-year low of $12.73 and a 1-year high of $30.54. The company has a market cap of $118,603.99, a P/E ratio of 13.32, a P/E/G ratio of 2.66 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. General Electric’s dividend payout ratio is currently 45.71%.
A number of analysts have recently commented on the stock. JPMorgan Chase reissued a “sell” rating on shares of General Electric in a research report on Friday. Goldman Sachs set a $14.00 price objective on shares of General Electric and gave the stock a “hold” rating in a research report on Monday. Bank of America reissued a “hold” rating and issued a $17.00 price objective on shares of General Electric in a research report on Sunday, April 15th. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. Finally, Royal Bank of Canada restated a “hold” rating and set a $15.00 target price on shares of General Electric in a report on Thursday, April 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric has a consensus rating of “Hold” and a consensus price target of $17.86.
In related news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the acquisition, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.12% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. boosted its position in shares of General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after acquiring an additional 67 shares during the period. NorthRock Partners LLC boosted its position in shares of General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 80 shares during the period. Shapiro Capital Management LLC boosted its position in shares of General Electric by 0.8% in the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after acquiring an additional 147 shares during the period. CFO4Life Group LLC boosted its position in shares of General Electric by 0.9% in the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after acquiring an additional 152 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of General Electric by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 56.22% of the company’s stock.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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