Oppenheimer Equities Analysts Boost Earnings Estimates for General Electric (NYSE:GE)

General Electric (NYSE:GE – Get Rating) – Equities research analysts at Oppenheimer raised their FY2024 earnings estimates for General Electric in a research report issued on Monday, March 13th. Oppenheimer analyst C. Glynn now forecasts that the conglomerate will post earnings of $4.35 per share for the year, up from their prior estimate of $3.85. Oppenheimer currently has a “Outperform” rating and a $102.00 price target on the stock. The consensus estimate for General Electric’s current full-year earnings is $1.97 per share.

A number of other research firms also recently commented on GE. Morgan Stanley decreased their price objective on shares of General Electric from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Barclays boosted their price target on shares of General Electric from $81.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 26th. Royal Bank of Canada boosted their price target on shares of General Electric from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, March 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $89.00 to $94.00 in a report on Monday, December 5th. Finally, Wells Fargo & Company reduced their price target on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $93.14.

General Electric Stock Performance

General Electric stock opened at $91.97 on Thursday. The company has a market cap of $100.18 billion, a PE ratio of -3,065.67, a P/E/G ratio of 6.51 and a beta of 1.25. The company has a fifty day moving average price of $82.75 and a two-hundred day moving average price of $78.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.16 and a quick ratio of 0.86. General Electric has a 12 month low of $46.55 and a 12 month high of $94.94.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $21.79 billion during the quarter, compared to the consensus estimate of $22.11 billion. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Tuesday, March 7th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s dividend payout ratio (DPR) is presently -1,066.67%.

Institutional Investors Weigh In On General Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. raised its holdings in General Electric by 10.0% during the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock worth $27,925,000 after buying an additional 27,682 shares during the period. Prudential PLC acquired a new stake in General Electric during the 1st quarter worth about $1,518,000. Sequoia Financial Advisors LLC raised its holdings in General Electric by 2.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock worth $1,075,000 after buying an additional 334 shares during the period. Merit Financial Group LLC acquired a new stake in General Electric during the 1st quarter worth about $388,000. Finally, West Family Investments Inc. acquired a new stake in General Electric during the 1st quarter worth about $230,000. 70.12% of the stock is currently owned by institutional investors.

General Electric Company Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.