General Electric (NYSE:GE) announced a quarterly dividend on Friday, February 9th, RTT News reports. Shareholders of record on Monday, February 26th will be given a dividend of 0.12 per share by the conglomerate on Wednesday, April 25th. This represents a $0.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, February 23rd.
General Electric has increased its dividend payment by an average of 2.9% per year over the last three years. General Electric has a dividend payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect General Electric to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 47.1%.
General Electric (NYSE:GE) traded down $0.14 on Friday, hitting $14.31. The company’s stock had a trading volume of 67,006,596 shares, compared to its average volume of 107,437,234. General Electric has a 1 year low of $14.23 and a 1 year high of $30.59. The firm has a market cap of $124,310.00, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 2.89 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53.
Several equities analysts have recently weighed in on the company. Citigroup set a $28.00 price objective on General Electric and gave the company a “buy” rating in a report on Monday, October 23rd. UBS Group cut General Electric from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $31.00 to $24.00 in a report on Monday, October 23rd. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a report on Wednesday, January 10th. Royal Bank of Canada cut General Electric from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $25.00 to $20.00 in a report on Tuesday, November 14th. Finally, Deutsche Bank decreased their price objective on General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a report on Tuesday, November 21st. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.31.
In related news, Chairman John Leonard Flannery acquired 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander Dimitrief acquired 2,689 shares of the business’s stock in a transaction on Monday, January 29th. The shares were bought at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The disclosure for this purchase can be found here. Insiders have acquired 124,370 shares of company stock valued at $2,245,570 over the last 90 days. Company insiders own 0.36% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. WealthTrust Fairport LLC raised its position in General Electric by 7.2% during the third quarter. WealthTrust Fairport LLC now owns 89,066 shares of the conglomerate’s stock valued at $2,154,000 after purchasing an additional 5,980 shares in the last quarter. Yellowstone Partners LLC acquired a new position in General Electric during the third quarter valued at approximately $905,000. Fieldpoint Private Securities LLC acquired a new position in General Electric during the third quarter valued at approximately $1,735,000. Wealthcare Advisory Partners LLC raised its position in General Electric by 1,341.8% during the third quarter. Wealthcare Advisory Partners LLC now owns 26,601 shares of the conglomerate’s stock valued at $643,000 after purchasing an additional 24,756 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC raised its position in General Electric by 2.2% during the third quarter. Stonebridge Capital Advisors LLC now owns 233,584 shares of the conglomerate’s stock valued at $5,648,000 after purchasing an additional 5,110 shares in the last quarter. Hedge funds and other institutional investors own 55.44% of the company’s stock.
General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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