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

General Electric (NYSE:GE) declared a quarterly dividend on Friday, December 13th,RTT News reports. Stockholders 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 0.67%.

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 Performance

GE stock opened at $166.01 on Friday. The firm has a 50-day simple moving average of $180.30 and a two-hundred day simple moving average of $172.42. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $95.92 and a one year high of $194.80. The firm has a market cap of $179.67 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. On average, equities analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value 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 approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Wells Fargo & Company boosted their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, 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 research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.93.

General Electric Company Profile

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.