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

General Electric (NYSE:GE) released its earnings results on Tuesday. The conglomerate reported $0.82 EPS for the quarter, topping 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 10.88% and a net margin of 13.95%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share.

General Electric Stock Up 1.4 %

Shares of GE opened at $150.19 on Tuesday. 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 one year low of $76.87 and a one year high of $158.68. The stock has a market capitalization of $164.20 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.92 and a beta of 1.29. The stock has a 50 day moving average price of $159.52 and a 200 day moving average price of $135.03.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. General Electric’s payout ratio is 13.38%.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group reduced their price target on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada reduced their price target on General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, April 4th. Bank of America reduced their price target on General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.