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

General Electric (NYSE:GEGet Free Report) announced a quarterly dividend on Thursday, June 20th, RTT News reports. Investors of record on Thursday, July 11th will be given a dividend of 0.28 per share by the conglomerate on Thursday, July 25th. This represents a $1.12 annualized dividend and a dividend 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. 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 Price Performance

Shares of GE opened at $163.13 on Wednesday. The stock has a market capitalization of $178.56 billion, a PE ratio of 53.49, a PEG ratio of 1.73 and a beta of 1.21. The company has a 50 day moving average price of $162.59 and a 200-day moving average price of $153.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80.

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

Insider Buying and Selling at General Electric

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 value of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on GE. Barclays decreased their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Citigroup boosted their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. StockNews.com began coverage on shares of General Electric in a research note on Monday, April 29th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.93.

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About General Electric

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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.

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Dividend History for General Electric (NYSE:GE)

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