General Electric (GE) to Issue Quarterly Dividend of $0.28 on October 25th

General Electric (NYSE:GE) announced a quarterly dividend on Friday, September 13th, NASDAQ reports. Shareholders 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 dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.7 %

GE stock opened at $188.71 on Tuesday. General Electric has a twelve month low of $84.42 and a twelve month high of $189.78. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $206.56 billion, a PE ratio of 61.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The business’s 50-day simple moving average is $169.27 and its 200 day simple moving average is $170.43.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GE shares. Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two investment 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, General Electric has a consensus rating of “Moderate Buy” and an average price target 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.