General Electric (NYSE:GE) announced its quarterly earnings results on Wednesday. The conglomerate reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05, Briefing.com reports. The company had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. General Electric updated its FY 2019 guidance to $0.55-0.65 EPS and its FY19 guidance to $0.55-0.65 EPS.
GE stock traded down $0.08 during mid-day trading on Friday, hitting $10.00. 64,290,489 shares of the stock were exchanged, compared to its average volume of 46,588,580. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.77 and a quick ratio of 1.50. The firm’s fifty day simple moving average is $10.35. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78. The company has a market cap of $87.21 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $250,500. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.
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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