General Electric (NYSE:GE) announced a quarterly dividend on Friday, June 21st, Fidelity reports. Investors of record on Monday, July 1st will be given a dividend of 0.01 per share by the conglomerate on Thursday, July 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, June 28th.
General Electric has decreased its dividend by an average of 19.5% annually over the last three years. General Electric has a dividend payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect General Electric to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 5.6%.
General Electric stock opened at $10.27 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. General Electric has a 1-year low of $6.66 and a 1-year high of $14.44. The stock has a market cap of $89.13 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.32 and a beta of 0.98. The stock has a 50-day moving average price of $9.99.
A number of equities analysts have recently commented on GE shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $11.00 target price on shares of General Electric in a research report on Friday, March 8th. Zacks Investment Research raised shares of General Electric from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Monday, May 20th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Thursday, May 23rd. Gordon Haskett lowered shares of General Electric to an “underperform” rating and set a $7.00 target price on the stock. in a research report on Wednesday, March 6th. Finally, ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.89.
In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the completion of the sale, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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