General Electric (NYSE:GE – Get Free Report) announced its earnings results on Tuesday. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21, Briefing.com reports. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. General Electric updated its FY24 guidance to $3.95-4.20 EPS and its FY 2024 guidance to 3.950-4.200 EPS.
General Electric Stock Performance
GE stock opened at $167.01 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The firm has a market cap of $181.09 billion, a P/E ratio of 54.00, a P/E/G ratio of 1.72 and a beta of 1.21. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The stock’s 50 day simple moving average is $162.16 and its 200 day simple moving average is $156.01.
General Electric Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.
Analyst Ratings Changes
Check Out Our Latest Report on GE
Insider Activity at General Electric
In related news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.
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