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

General Electric (NYSE:GE) announced a quarterly dividend on Friday, September 13th, NASDAQ reports. Investors of record on Thursday, September 26th will be given a dividend of 0.28 per share by the conglomerate on Friday, October 25th. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, September 26th.

General Electric has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect General Electric to earn $5.12 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 21.9%.

General Electric Stock Performance

GE opened at $188.71 on Tuesday. The company has a market capitalization of $206.56 billion, a price-to-earnings ratio of 61.87, a P/E/G ratio of 1.65 and a beta of 1.18. The business’s 50-day moving average price is $169.27 and its two-hundred day moving average price is $170.43. General Electric has a 1 year low of $84.42 and a 1 year high of $189.78. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group increased their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

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.