General Electric (NYSE:GE) Declares Quarterly Dividend of $0.08

General Electric (NYSE:GEGet Rating) announced a quarterly dividend on Friday, September 9th, RTT News reports. Investors of record on Tuesday, September 27th will be given a dividend of 0.08 per share by the conglomerate on Tuesday, October 25th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, September 26th.

General Electric has decreased its dividend payment by an average of 52.4% per year over the last three years. General Electric has a dividend payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect General Electric to earn $4.46 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 7.2%.

General Electric Stock Performance

Shares of NYSE:GE opened at $74.04 on Friday. The stock has a fifty day simple moving average of $71.83 and a two-hundred day simple moving average of $78.59. General Electric has a 12-month low of $59.93 and a 12-month high of $116.17. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77.

General Electric (NYSE:GEGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.40. The company had revenue of $18.65 billion during the quarter, compared to analysts’ expectations of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. General Electric’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities research analysts expect that General Electric will post 2.74 EPS for the current fiscal year.

Hedge Funds Weigh In On General Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Global Wealth Management Investment Advisory Inc. boosted its holdings in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after buying an additional 299 shares during the last quarter. Worth Asset Management LLC acquired a new stake in General Electric in the 1st quarter worth about $37,000. Auxier Asset Management acquired a new stake in General Electric in the 1st quarter worth about $220,000. West Family Investments Inc. acquired a new stake in General Electric in the 1st quarter worth about $230,000. Finally, Wealth Architects LLC boosted its holdings in General Electric by 22.4% in the 1st quarter. Wealth Architects LLC now owns 2,690 shares of the conglomerate’s stock worth $246,000 after buying an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 67.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GE shares. Credit Suisse Group cut their price target on General Electric from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Morgan Stanley dropped their price objective on General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. The Goldman Sachs Group dropped their price target on General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, August 16th. They set an “outperform” rating and a $100.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $90.00 to $88.00 in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $99.15.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

Dividend History for General Electric (NYSE:GE)

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