General Electric (NYSE:GE) announced its quarterly earnings results on Friday. The conglomerate reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05, Bloomberg Earnings reports. The business had revenue of $28.66 billion for the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. General Electric updated its FY18 guidance to $1.00-1.07 EPS.
General Electric stock traded up $0.55 during mid-day trading on Friday, hitting $14.54. The company had a trading volume of 188,686,041 shares, compared to its average volume of 71,814,032. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. General Electric has a 12 month low of $12.73 and a 12 month high of $30.38. The company has a market capitalization of $126,244.66, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.30%. General Electric’s payout ratio is 45.71%.
A number of institutional investors have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. lifted its holdings in shares of General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 67 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 80 shares in the last quarter. Shapiro Capital Management LLC lifted its holdings in shares of General Electric by 0.8% during the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 147 shares in the last quarter. CFO4Life Group LLC lifted its holdings in shares of General Electric by 0.9% during the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after purchasing an additional 152 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of General Electric by 0.3% during the second quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after purchasing an additional 176 shares in the last quarter. 56.22% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Tigress Financial reissued a “hold” rating on shares of General Electric in a research note on Thursday, December 28th. JPMorgan Chase reissued a “sell” rating and set a $16.00 target price (down from $17.00) on shares of General Electric in a research note on Monday, January 8th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research note on Wednesday, January 10th. Deutsche Bank reissued a “sell” rating and set a $15.00 target price on shares of General Electric in a research note on Wednesday, January 17th. Finally, Vertical Research set a $18.00 target price on General Electric and gave the company a “hold” rating in a research note on Tuesday, January 16th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.86.
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General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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