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

General Electric (NYSE:GE) declared a quarterly dividend on Friday, December 13th,RTT News reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.28 per share by the conglomerate on Monday, January 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, December 27th.

General Electric has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect General Electric to earn $5.19 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 21.6%.

General Electric Stock Up 1.5 %

Shares of NYSE GE opened at $171.49 on Wednesday. The stock has a market cap of $185.60 billion, a P/E ratio of 30.14, a PEG ratio of 1.66 and a beta of 1.17. The business’s fifty day simple moving average is $177.10 and its 200-day simple moving average is $172.70. General Electric has a 12-month low of $98.92 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. As a group, equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

GE has been the subject of several analyst reports. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $201.93.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.