General Electric Declares Quarterly Dividend of $0.28 (NYSE:GE)

General Electric (NYSE:GE) announced a quarterly dividend on Thursday, June 20th, RTT News reports. Investors of record on Thursday, July 11th will be paid a dividend of 0.28 per share by the conglomerate on Thursday, July 25th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, July 11th.

General Electric has a dividend payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect General Electric to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 22.7%.

General Electric Trading Down 0.2 %

NYSE:GE opened at $163.13 on Wednesday. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80. The business’s 50-day moving average is $162.59 and its two-hundred day moving average is $153.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market capitalization of $178.56 billion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the company posted $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts predict that General Electric will post 4.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on GE. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company lifted their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Citigroup raised their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, StockNews.com began coverage on General Electric in a report on Monday, April 29th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.93.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.