General Electric (NYSE:GE) announced a quarterly dividend on Friday, December 7th, RTT News reports. Stockholders of record on Thursday, December 20th will be paid a dividend of 0.01 per share by the conglomerate on Friday, January 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.57%.
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 50.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Electric to earn $0.75 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 64.0%.
Shares of NYSE:GE opened at $7.01 on Friday. The firm has a market capitalization of $63.82 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 2.09 and a beta of 0.88. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03. General Electric has a 52 week low of $6.99 and a 52 week high of $19.39.
General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. General Electric’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. On average, research analysts anticipate that General Electric will post 0.67 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on GE shares. Bank of America reaffirmed a “hold” rating and issued a $14.00 price objective on shares of General Electric in a research report on Thursday, October 4th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of General Electric in a research report on Wednesday, October 31st. ValuEngine raised General Electric from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Deutsche Bank lowered their price objective on General Electric from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, November 30th. Finally, JPMorgan Chase & Co. set a $10.00 target price on General Electric and gave the company a “sell” rating in a report on Wednesday, October 31st. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric has an average rating of “Hold” and an average target price of $13.86.
In related news, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of General Electric stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $9.73 per share, for a total transaction of $2,189,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Francisco Dsouza acquired 60,000 shares of General Electric stock in a transaction on Wednesday, November 14th. The shares were bought at an average price of $8.32 per share, for a total transaction of $499,200.00. Following the purchase, the director now owns 151,500 shares of the company’s stock, valued at $1,260,480. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 295,000 shares of company stock worth $2,783,250. 1.12% of the stock is currently owned by insiders.
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About General Electric
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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