General Electric (NYSE:GE) – Stock analysts at Gabelli dropped their FY2019 earnings per share estimates for shares of General Electric in a research note issued on Monday, March 18th. Gabelli analyst J. Bergner now forecasts that the conglomerate will post earnings of $0.58 per share for the year, down from their previous estimate of $0.70. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for General Electric’s FY2020 earnings at $0.73 EPS, FY2021 earnings at $0.95 EPS and FY2022 earnings at $1.08 EPS.
General Electric (NYSE:GE) last released its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The firm had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion.
Shares of NYSE:GE opened at $10.27 on Wednesday. General Electric has a 12-month low of $6.66 and a 12-month high of $15.59. The stock has a market cap of $88.48 billion, a PE ratio of 15.80, a P/E/G ratio of 4.29 and a beta of 0.99. The company has a current ratio of 1.81, a quick ratio of 1.52 and a debt-to-equity ratio of 1.85.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.39%. General Electric’s payout ratio is presently 6.15%.
In related news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the sale, the insider now directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.12% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Bank purchased a new stake in General Electric in the fourth quarter worth about $184,000. BCJ Capital Management LLC purchased a new stake in General Electric in the fourth quarter worth about $143,000. Arbor Wealth Management LLC purchased a new stake in General Electric in the fourth quarter worth about $30,000. American Century Companies Inc. lifted its holdings in General Electric by 14.6% in the fourth quarter. American Century Companies Inc. now owns 15,948,463 shares of the conglomerate’s stock worth $120,730,000 after buying an additional 2,037,254 shares during the period. Finally, Norges Bank purchased a new stake in General Electric in the fourth quarter worth about $555,184,000. 56.86% of the stock is currently owned by institutional investors.
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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