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

General Electric (NYSE:GE) announced a quarterly dividend on Friday, December 13th,RTT News reports. Shareholders of record on Friday, December 27th will be paid a dividend of 0.28 per share by the conglomerate on Monday, January 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%.

General Electric has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.7 %

Shares of NYSE:GE opened at $166.01 on Friday. General Electric has a 52-week low of $95.92 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market cap of $179.67 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.66 and a beta of 1.17. The stock’s 50-day moving average is $180.30 and its 200-day moving average is $172.42.

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

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at $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 available through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a report 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. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $201.93.

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.