General Electric (NYSE:GE – Get Free Report) posted its quarterly earnings data on Tuesday. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21, Briefing.com reports. General Electric had a net margin of 7.66% and a return on equity of 14.59%. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue 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 Trading Up 3.5 %
Shares of GE stock traded up $5.65 during trading hours on Thursday, reaching $167.95. The company had a trading volume of 4,741,078 shares, compared to its average volume of 7,136,174. The firm has a market cap of $183.84 billion, a price-to-earnings ratio of 54.36, a P/E/G ratio of 1.82 and a beta of 1.21. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The company has a 50 day moving average of $162.08 and a 200 day moving average of $155.95.
General Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be 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 is Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.
Wall Street Analyst Weigh In
Get Our Latest Analysis on General Electric
Insider Transactions at General Electric
In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by insiders.
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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