Equities Analysts Issue Forecasts for General Electric’s Q3 2022 Earnings (NYSE:GE)

General Electric (NYSE:GEGet Rating) – Research analysts at Oppenheimer dropped their Q3 2022 earnings estimates for shares of General Electric in a research note issued to investors on Tuesday, July 26th. Oppenheimer analyst C. Glynn now forecasts that the conglomerate will earn $0.51 per share for the quarter, down from their previous estimate of $0.80. The consensus estimate for General Electric’s current full-year earnings is $2.75 per share. Oppenheimer also issued estimates for General Electric’s FY2023 earnings at $4.70 EPS.

General Electric (NYSE:GEGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.40. General Electric had a negative net margin of 5.94% and a positive return on equity of 7.50%. The company had revenue of $18.65 billion for the quarter, compared to the consensus estimate of $17.90 billion. During the same quarter in the prior year, the company earned $0.40 EPS. General Electric’s quarterly revenue was up 2.2% on a year-over-year basis.

GE has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $90.00 to $88.00 in a research report on Wednesday. Wells Fargo & Company upped their price objective on General Electric to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on General Electric from $108.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Morgan Stanley lowered their price objective on General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Finally, Credit Suisse Group decreased their target price on General Electric from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.21.

General Electric Trading Up 1.1 %

General Electric stock opened at $73.91 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.77. General Electric has a 12 month low of $59.93 and a 12 month high of $116.17. The stock’s 50 day simple moving average is $69.05 and its two-hundred day simple moving average is $83.12. The firm has a market cap of $81.35 billion, a PE ratio of -17.43, a P/E/G ratio of 3.72 and a beta of 1.06.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Tuesday, June 28th were issued a $0.08 dividend. The ex-dividend date was Monday, June 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. General Electric’s payout ratio is currently -7.55%.

Insider Buying and Selling at General Electric

In other news, CEO H Lawrence Culp, Jr. acquired 65,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were bought at an average price of $74.53 per share, for a total transaction of $4,844,450.00. Following the acquisition, the chief executive officer now owns 211,210 shares of the company’s stock, valued at approximately $15,741,481.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP John S. Slattery acquired 3,601 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were bought at an average price of $75.00 per share, for a total transaction of $270,075.00. Following the acquisition, the senior vice president now owns 3,601 shares of the company’s stock, valued at approximately $270,075. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lawrence Culp, Jr. bought 65,000 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was bought at an average cost of $74.53 per share, with a total value of $4,844,450.00. Following the completion of the purchase, the chief executive officer now directly owns 211,210 shares in the company, valued at $15,741,481.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 69,801 shares of company stock worth $5,207,705. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of General Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. Missouri Trust & Investment Co acquired a new stake in shares of General Electric in the 4th quarter worth $27,000. Benjamin Edwards Inc. increased its stake in shares of General Electric by 325.0% in the 4th quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Tcwp LLC acquired a new stake in shares of General Electric in the 1st quarter worth $28,000. Covestor Ltd acquired a new stake in shares of General Electric during the 4th quarter worth about $31,000. Finally, Global Wealth Management Investment Advisory Inc. increased its position in shares of General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 299 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

See Also

Earnings History and Estimates for General Electric (NYSE:GE)

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