General Electric (NYSE:GE) Stock Slides to Record Low as Earnings Tumble – GE, UTX, PHG, TMO

The Fairfield, Connecticut based General Electric Company (NYSE:GE) stock tumbled to record low since 2011 after fiscal Q1 drop in its Power & Water unit pulled total industrial earnings tumble 11%.

The company announced in a statement that its manufacturing units profit tumbled to $2.94 billion as sales tumbled 5.7% to $22.7 billion. The drop was directed by a 39% decline in earnings at the power and water unit.

The drop makes it tougher for corporation to achieve the industrial growth targeted in its full-year scheme and emphasized in incentive-pay packages.

GE’s industrial unit profit margin contracted 71 basis points in the three months period, roughly the amount that Immelt had forecasted they would hike in the full year.

Shares of the company tumbled almost 4% to $21.75 in New York and marked the major drop since November 2011.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. United Technologies Corporation (NYSE:UTX) up +1.82% to settle at $93.22, Koninklijke Philips Electronics NV (ADR) (NYSE:PHG) moved down -0.49% to end at $28.30 while Thermo Fisher Scientific Inc. (NYSE:TMO) plunged -0.06% to finish at $80.03 on Friday.

General Electric Company (NYSE:GE) last session’s volume of 108.84 million shares was higher than its average volume of 37.73 million shares. The stock after opening at $21.94 hit high price of $22.03 and then closed at $21.75 by scoring -4.06%.

GE generated revenue of $147.19 billion in the previous twelve months and earned $15.06 billion. The Company showed a positive 10.35% in the net profit margin as well as in its operating margin which remained at 11.96%. Company’s annual sales growth for the past five years was -3.10%.

The GE’s past twelve months’ price to sales ratio was 1.53 and price to cash ratio remained 1.63. As far as the returns are concerned, GE’s return on equity was recorded as 12.36% and return on investment increased 2.51% while its return on asset stayed at 2.21%.

The stock showed weekly downbeat performance of -7.29% which was maintained for the month at -7.29%. Likewise the positive performance for the quarter was recorded as +2.93% and for the year was +16.25% while the YTD performance remained at +4.47%.

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