General Electric (NYSE:GE – Get Free Report) issued its quarterly earnings results on Tuesday. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17, RTT News reports. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. General Electric updated its FY 2024 guidance to 3.800-4.050 EPS.
General Electric Stock Performance
Shares of GE stock opened at $159.19 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17. General Electric has a fifty-two week low of $76.87 and a fifty-two week high of $163.65. The stock has a 50 day moving average price of $160.20 and a two-hundred day moving average price of $135.55. The company has a market capitalization of $174.04 billion, a P/E ratio of 52.19, a PEG ratio of 3.05 and a beta of 1.29.
General Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.70%. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is presently 36.72%.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on General Electric
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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the company’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 value of $3,195,107.85. Following the transaction, 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. Corporate 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.
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