General Electric (NYSE:GE) Issues Earnings Results, Beats Expectations By $0.17 EPS

General Electric (NYSE:GE) announced its quarterly earnings data on Tuesday. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17, RTT News reports. 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 analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis.

General Electric Stock Performance

NYSE GE opened at $150.19 on Tuesday. The company has a market capitalization of $164.20 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.92 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. General Electric has a 52-week low of $76.87 and a 52-week high of $158.68. The company has a fifty day moving average of $159.52 and a 200-day moving average of $135.03.

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 issued a $0.28 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 0.75%. General Electric’s dividend payout ratio is presently 13.38%.

Insiders Place Their Bets

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction 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 transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Michael J. Holston sold 13,601 shares of the firm’s 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 $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on shares of General Electric in a report on Tuesday, April 9th. They issued a “buy” rating and a $190.00 price target on the stock. Vertical Research assumed coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Bank of America dropped their price objective on shares of General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 8th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Finally, Barclays lowered their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $160.07.

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.