General Electric (NYSE:GE) released its earnings results on Friday. The conglomerate reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05, Bloomberg Earnings reports. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. General Electric updated its FY18 guidance to $1.00-1.07 EPS.
Shares of NYSE:GE opened at $14.54 on Friday. The stock has a market cap of $126,244.66, a P/E ratio of 13.85, a P/E/G ratio of 2.83 and a beta of 1.02. 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 one year low of $12.73 and a one year high of $30.38.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.30%. General Electric’s payout ratio is currently 45.71%.
In related news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.12% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Schafer Cullen Capital Management Inc. raised its holdings in shares of General Electric by 19.3% during the 4th quarter. Schafer Cullen Capital Management Inc. now owns 5,729,020 shares of the conglomerate’s stock valued at $99,971,000 after buying an additional 925,159 shares during the period. Cullen Capital Management LLC raised its holdings in shares of General Electric by 19.3% during the 4th quarter. Cullen Capital Management LLC now owns 3,144,350 shares of the conglomerate’s stock valued at $54,869,000 after buying an additional 507,620 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of General Electric by 1,153.8% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,630,000 shares of the conglomerate’s stock valued at $28,444,000 after buying an additional 1,500,000 shares during the period. Meitav Dash Investments Ltd. purchased a new stake in shares of General Electric during the 4th quarter valued at about $2,018,000. Finally, CS Mckee LP raised its holdings in shares of General Electric by 29.4% during the 4th quarter. CS Mckee LP now owns 1,371,890 shares of the conglomerate’s stock valued at $23,939,000 after buying an additional 311,800 shares during the period. Institutional investors and hedge funds own 56.22% of the company’s stock.
A number of equities analysts have recently commented on GE shares. Morningstar set a $23.50 price objective on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a report on Wednesday, January 10th. Citigroup cut their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Finally, Barclays started coverage on General Electric in a report on Thursday, February 15th. They issued an “equal weight” rating and a $16.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and an average target price of $17.86.
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About General Electric
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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