General Electric (NYSE:GE) Shares Up 0.1% After Dividend Announcement

General Electric (NYSE:GE)’s share price was up 0.1% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $209.16 and last traded at $208.62. Approximately 4,267,083 shares changed hands during trading, a decline of 29% from the average daily volume of 6,009,583 shares. The stock had previously closed at $208.36.

The newly announced dividend which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 18.70%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GE. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday. They issued a “buy” rating and a $250.00 price target on the stock. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, Citigroup boosted their price target on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Up 0.8 %

The stock has a market capitalization of $225.33 billion, a PE ratio of 35.05, a PEG ratio of 2.56 and a beta of 1.22. The stock’s 50 day moving average price is $183.40 and its 200-day moving average price is $179.67. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, sell-side analysts expect that General Electric will post 5.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp bought a new position in shares of General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter valued at about $27,000. New Age Alpha Advisors LLC grew its position in shares of General Electric by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric in the third quarter worth about $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.