General Electric (NYSE:GE) announced a quarterly dividend on Friday, June 8th, RTT News reports. Investors of record on Monday, June 18th will be given a dividend of 0.12 per share by the conglomerate on Wednesday, July 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, June 15th.
General Electric has increased its dividend payment by an average of 2.9% per year over the last three years. General Electric has a dividend payout ratio of 45.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Electric to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 47.5%.
GE opened at $13.89 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.48 and a debt-to-equity ratio of 1.44. General Electric has a fifty-two week low of $12.73 and a fifty-two week high of $29.47. The stock has a market capitalization of $121.38 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01.
General Electric (NYSE:GE) last posted its earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The company had revenue of $28.66 billion for the quarter, compared to analyst estimates of $27.26 billion. During the same quarter in the prior year, the business posted $0.14 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. equities analysts forecast that General Electric will post 0.95 EPS for the current fiscal year.
In other news, major shareholder Electric Co General sold 3,883,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $58,245,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.
An institutional investor recently bought a new position in General Electric stock. HC Financial Advisors Inc. purchased a new position in shares of General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 16,079 shares of the conglomerate’s stock, valued at approximately $281,000. Hedge funds and other institutional investors own 54.00% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. restated a “sell” rating and issued a $11.00 target price on shares of General Electric in a report on Tuesday, May 22nd. Goldman Sachs Group set a $14.00 target price on shares of General Electric and gave the stock a “hold” rating in a report on Monday, April 16th. Stifel Nicolaus upped their target price on shares of General Electric from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, April 27th. Credit Suisse Group reiterated a “neutral” rating and issued a $15.00 price objective on shares of General Electric in a research note on Friday, April 27th. Finally, ValuEngine lowered shares of General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus target price of $17.92.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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