General Electric (GE) Scheduled to Post Earnings on Tuesday

General Electric (NYSE:GE) will post its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect General Electric to post earnings of $0.64 per share for the quarter. General Electric has set its Q1 guidance at $0.60-0.65 EPS and its Q1 2024 guidance at 0.600-0.650 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. On average, analysts expect General Electric to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

General Electric Stock Down 0.6 %

GE stock opened at $153.71 on Tuesday. The firm has a 50 day moving average of $158.14 and a 200 day moving average of $133.49. The stock has a market capitalization of $168.05 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 3.03 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. General Electric has a 52 week low of $76.38 and a 52 week high of $158.68.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s payout ratio is 13.38%.

Insider Activity at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the 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 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 document filed with the SEC, which is available at the SEC website. In related news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated 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 directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 56,284 shares of the company’s stock, 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.

Institutional Trading of General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Hobbs Group Advisors LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $29,000. SageView Advisory Group LLC grew its stake in shares of General Electric by 38.5% during the fourth quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock worth $1,035,000 after purchasing an additional 2,147 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of General Electric during the fourth quarter worth $1,409,000. Childress Capital Advisors LLC grew its stake in General Electric by 7.0% in the fourth quarter. Childress Capital Advisors LLC now owns 2,703 shares of the conglomerate’s stock valued at $345,000 after acquiring an additional 178 shares during the period. Finally, DRW Securities LLC grew its stake in General Electric by 16.9% in the fourth quarter. DRW Securities LLC now owns 9,052 shares of the conglomerate’s stock valued at $1,155,000 after acquiring an additional 1,309 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GE. Wells Fargo & Company dropped their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Barclays lowered their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Vertical Research initiated coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada reduced their target price on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.07.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.