General Electric (NYSE:GE – Get Rating) declared a quarterly dividend on Friday, June 17th, RTT News reports. Shareholders of record on Tuesday, June 28th will be paid a dividend of 0.08 per share by the conglomerate on Monday, July 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 27th.
General Electric has decreased its dividend by an average of 52.4% per year over the last three years. General Electric has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Analysts expect General Electric to earn $4.59 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 7.0%.
GE stock traded up $0.69 during mid-day trading on Friday, reaching $65.98. The company had a trading volume of 194,334 shares, compared to its average volume of 5,675,198. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. The firm has a 50 day moving average of $79.00 and a 200 day moving average of $89.55. General Electric has a 12 month low of $64.85 and a 12 month high of $116.17.
In other news, SVP John S. Slattery bought 3,601 shares of General Electric stock in a transaction on Monday, May 2nd. The shares were bought at an average cost of $75.00 per share, with a total value of $270,075.00. Following the completion of the purchase, the senior vice president now directly owns 3,601 shares of the company’s stock, valued at $270,075. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paula Rosput Reynolds bought 1,200 shares of General Electric stock in a transaction on Friday, May 6th. The shares were purchased at an average cost of $77.65 per share, for a total transaction of $93,180.00. Following the completion of the purchase, the director now directly owns 5,563 shares of the company’s stock, valued at $431,966.95. The disclosure for this purchase can be found here. Over the last three months, insiders bought 69,801 shares of company stock worth $5,207,705. Insiders own 0.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GE. Morgan Stanley raised its stake in shares of General Electric by 5.7% in the 2nd quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after acquiring an additional 2,238,808 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of General Electric in the fourth quarter valued at approximately $1,008,000. HB Wealth Management LLC acquired a new position in shares of General Electric in the fourth quarter valued at approximately $232,000. Glenmede Trust Co. NA grew its holdings in shares of General Electric by 1.0% in the fourth quarter. Glenmede Trust Co. NA now owns 107,975 shares of the conglomerate’s stock valued at $10,199,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in shares of General Electric by 9.1% in the fourth quarter. Crestwood Advisors Group LLC now owns 7,193 shares of the conglomerate’s stock valued at $680,000 after purchasing an additional 601 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.
GE has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of General Electric in a research report on Thursday, March 31st. They set a “hold” rating for the company. Barclays decreased their target price on shares of General Electric from $100.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday, May 24th. Morgan Stanley decreased their target price on shares of General Electric from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $118.00 to $107.00 in a research report on Wednesday, April 27th. Finally, Credit Suisse Group decreased their target price on shares of General Electric from $113.00 to $102.00 in a research report on Wednesday, April 27th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $116.36.
General Electric Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on General Electric (GE)
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