General Electric (NYSE:GE) Plans Quarterly Dividend of $0.01

General Electric (NYSE:GE) declared a quarterly dividend on Friday, June 21st, Fidelity reports. Investors of record on Monday, July 1st will be given a dividend of 0.01 per share by the conglomerate on Thursday, July 25th. This represents a $0.04 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, June 28th.

General Electric has decreased its dividend by an average of 19.5% annually over the last three years. General Electric has a payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Electric to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 5.6%.

General Electric stock opened at $10.22 on Wednesday. General Electric has a 52 week low of $6.66 and a 52 week high of $14.44. The business’s 50-day simple moving average is $9.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77. The stock has a market capitalization of $89.65 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The business had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. Equities research analysts predict that General Electric will post 0.61 EPS for the current year.

Several equities analysts recently commented on GE shares. Credit Suisse Group restated a “neutral” rating and set a $11.00 target price on shares of General Electric in a research report on Friday, March 8th. Zacks Investment Research raised General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Monday, May 20th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research note on Thursday, May 23rd. Gordon Haskett lowered General Electric to an “underperform” rating and set a $7.00 price target for the company. in a research note on Wednesday, March 6th. Finally, ValuEngine lowered General Electric from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.89.

In other news, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $250,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Dividend History for General Electric (NYSE:GE)

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