General Electric Company (NYSE:GE) released its quarterly earnings results on Friday. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03, Bloomberg Earnings reports. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same period last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. General Electric updated its FY17 guidance to $1.60-1.70 EPS.
Shares of General Electric (NYSE GE) opened at 25.91 on Friday. General Electric has a 1-year low of $25.26 and a 1-year high of $32.38. The firm has a 50-day moving average price of $27.48 and a 200-day moving average price of $29.14. The firm has a market capitalization of $225.00 billion, a PE ratio of 26.38 and a beta of 1.22. General Electric also was the recipient of unusually large options trading activity on Thursday. Stock investors bought 35,785 put options on the company. This represents an increase of approximately 143% compared to the average volume of 14,713 put options.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, June 15th. General Electric’s dividend payout ratio is presently 97.96%.
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In other news, Chairman Jeffrey R. Immelt acquired 100,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the acquisition, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marijn E. Dekkers acquired 20,000 shares of the business’s stock in a transaction on Monday, April 24th. The stock was purchased at an average price of $29.90 per share, for a total transaction of $598,000.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $29,900. The disclosure for this purchase can be found here. Insiders acquired a total of 140,000 shares of company stock worth $3,964,600 in the last quarter. 0.36% of the stock is currently owned by company insiders.
GE has been the subject of several research analyst reports. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 price target for the company. in a research report on Tuesday, April 4th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a research report on Saturday, May 20th. Stifel Nicolaus raised their price target on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Royal Bank Of Canada lowered their price target on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Finally, BidaskClub lowered General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $30.75.
General Electric Company Profile
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