General Electric (NYSE:GE) Announces Quarterly Dividend of $0.28

General Electric (NYSE:GE) declared 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 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th.

General Electric has a dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.6 %

GE opened at $189.79 on Wednesday. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $189.80. The firm has a market capitalization of $205.79 billion, a PE ratio of 62.23, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company’s 50-day moving average is $169.81 and its 200 day moving average is $170.28.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GE shares. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, UBS Group boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $191.36.

General Electric Company Profile

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.