General Electric (NYSE:GE) Announces $0.08 Quarterly Dividend
General Electric (NYSE:GE – Get Free Report) announced a quarterly dividend on Friday, December 15th, RTT News reports. Investors of record on Thursday, December 28th will be paid a dividend of 0.08 per share by the conglomerate on Thursday, January 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Wednesday, December 27th.
General Electric has a dividend payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Electric to earn $4.48 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.1%.
General Electric Price Performance
NYSE:GE traded up $1.43 during trading hours on Friday, reaching $122.78. 5,092,931 shares of the company were exchanged, compared to its average volume of 5,762,189. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65. The firm has a market cap of $133.63 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. General Electric has a twelve month low of $59.57 and a twelve month high of $123.37. The stock’s 50-day moving average is $114.75 and its 200-day moving average is $111.96.
General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. On average, sell-side analysts anticipate that General Electric will post 2.65 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
GE has been the topic of a number of analyst reports. Wells Fargo & Company raised shares of General Electric from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $115.00 to $144.00 in a research note on Friday. Citigroup lifted their target price on shares of General Electric from $135.00 to $148.00 and gave the stock a “buy” rating in a research note on Monday. Barclays lifted their target price on shares of General Electric from $131.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of General Electric in a research note on Wednesday, September 27th. They set a “buy” rating and a $141.00 target price on the stock. Finally, TheStreet downgraded shares of General Electric from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.64.
Read Our Latest Stock Report on GE
Institutional Trading of General Electric
Several institutional investors and hedge funds have recently bought and sold shares of the business. Proficio Capital Partners LLC raised its position in General Electric by 4.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,612 shares of the conglomerate’s stock worth $287,000 after purchasing an additional 107 shares during the last quarter. PYA Waltman Capital LLC raised its position in General Electric by 4.0% during the 2nd quarter. PYA Waltman Capital LLC now owns 2,839 shares of the conglomerate’s stock worth $328,000 after purchasing an additional 109 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in General Electric by 1.0% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 11,272 shares of the conglomerate’s stock worth $1,078,000 after purchasing an additional 117 shares during the last quarter. Plancorp LLC raised its position in shares of General Electric by 1.5% in the 1st quarter. Plancorp LLC now owns 9,628 shares of the conglomerate’s stock worth $881,000 after acquiring an additional 138 shares in the last quarter. Finally, First Manhattan Co. raised its position in shares of General Electric by 0.5% in the 1st quarter. First Manhattan Co. now owns 29,506 shares of the conglomerate’s stock worth $2,698,000 after acquiring an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
About General Electric (Get Free Report)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It 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.
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Original: MarketBeat News Feed: General Electric (NYSE:GE) Announces $0.08 Quarterly Dividend