General Electric (NYSE:GE) – Equities researchers at G.Research dropped their FY2019 earnings per share (EPS) estimates for shares of General Electric in a research report issued to clients and investors on Tuesday, November 5th. G.Research analyst J. Bergner now expects that the conglomerate will earn $0.60 per share for the year, down from their prior forecast of $0.64. G.Research also issued estimates for General Electric’s FY2020 earnings at $0.68 EPS, FY2021 earnings at $0.86 EPS, FY2022 earnings at $0.98 EPS and FY2023 earnings at $1.08 EPS.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share.
Several other research analysts have also commented on the company. Barclays reiterated a “buy” rating and issued a $12.00 price target on shares of General Electric in a research report on Friday, October 4th. William Blair restated a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Royal Bank of Canada restated a “buy” rating and set a $13.00 target price on shares of General Electric in a research report on Wednesday, October 30th. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley began coverage on General Electric in a research report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.41.
GE traded up $0.12 on Friday, hitting $11.41. The company had a trading volume of 20,433,191 shares, compared to its average volume of 60,476,536. The company has a market cap of $99.48 billion, a PE ratio of 17.55, a PEG ratio of 2.46 and a beta of 1.13. General Electric has a 12-month low of $6.66 and a 12-month high of $11.75. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67. The business’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $9.57.
A number of large investors have recently modified their holdings of the stock. Cetera Advisors LLC raised its stake in General Electric by 22.6% in the third quarter. Cetera Advisors LLC now owns 473,642 shares of the conglomerate’s stock worth $4,242,000 after buying an additional 87,264 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in General Electric in the third quarter worth approximately $7,286,000. Trillium Asset Management LLC raised its stake in General Electric by 75.1% in the third quarter. Trillium Asset Management LLC now owns 46,873 shares of the conglomerate’s stock worth $419,000 after buying an additional 20,101 shares in the last quarter. Rational Advisors LLC raised its stake in General Electric by 31.3% in the third quarter. Rational Advisors LLC now owns 41,905 shares of the conglomerate’s stock worth $375,000 after buying an additional 9,998 shares in the last quarter. Finally, Torray LLC raised its stake in General Electric by 1.1% in the third quarter. Torray LLC now owns 770,759 shares of the conglomerate’s stock worth $6,891,000 after buying an additional 8,658 shares in the last quarter. 58.97% of the stock is owned by institutional investors.
In other news, Director Thomas W. Horton purchased 55,248 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the completion of the acquisition, the director now owns 55,248 shares of the company’s stock, valued at $498,336.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Insiders purchased 801,068 shares of company stock valued at $6,954,745 in the last quarter. 1.13% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s payout ratio is 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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