General Electric (NYSE:GE) announced a quarterly dividend on Friday, September 10th, RTT News reports. Investors of record on Monday, September 27th will be given a dividend of 0.08 per share by the conglomerate on Monday, October 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, September 24th.
General Electric has decreased its dividend payment by 95.2% over the last three years and has raised its dividend annually for the last 1 consecutive years. General Electric has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Electric to earn $4.16 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.7%.
Shares of General Electric stock opened at $96.82 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.69. The business has a 50-day moving average price of $102.91 and a two-hundred day moving average price of $105.26. General Electric has a 1-year low of $48.00 and a 1-year high of $115.32. The company has a market cap of $106.50 billion, a P/E ratio of -35.60, a PEG ratio of 9.63 and a beta of 1.07.
A hedge fund recently raised its stake in General Electric stock. Morgan Stanley lifted its stake in shares of General Electric (NYSE:GE) by 5.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 41,344,433 shares of the conglomerate’s stock after acquiring an additional 2,238,808 shares during the period. Morgan Stanley owned approximately 3.76% of General Electric worth $556,497,000 as of its most recent SEC filing.
A number of brokerages have weighed in on GE. Citigroup reiterated a “buy” rating and set a $136.00 price target on shares of General Electric in a report on Wednesday, August 11th. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a report on Monday, September 13th. UBS Group restated a “buy” rating and issued a $136.00 target price on shares of General Electric in a research note on Friday, September 17th. Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating and set a $112.00 target price for the company. in a research note on Monday, July 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $120.00 to $112.00 and set a “hold” rating on the stock in a research report on Wednesday, July 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $116.80.
About General Electric
General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.
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