General Electric (NYSE:GE) to Issue $0.28 Quarterly Dividend

General Electric (NYSE:GE) declared a quarterly dividend on Friday, June 21st, RTT News reports. Shareholders of record on Thursday, July 11th will be given a dividend of 0.28 per share by the conglomerate on Thursday, July 25th. This represents a $1.12 annualized dividend and a yield of 0.68%.

General Electric has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect General Electric to earn $4.91 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 22.8%.

General Electric Trading Up 0.1 %

NYSE GE opened at $165.15 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a 52 week low of $82.11 and a 52 week high of $170.80. The stock has a market capitalization of $180.77 billion, a PE ratio of 54.15, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The firm has a 50 day moving average of $161.50 and a two-hundred day moving average of $149.49.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that General Electric will post 3.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GE shares. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. StockNews.com initiated coverage on shares of General Electric in a research report on Monday, April 29th. They issued a “hold” rating for the company. Wells Fargo & Company upped their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Jefferies Financial Group upped their price objective on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Bank of America upped their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

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.