General Electric (GE) To Go Ex-Dividend on September 26th

General Electric (NYSE:GEGet Rating) declared a quarterly dividend on Friday, September 9th, RTT News reports. Stockholders of record on Tuesday, September 27th will be paid a dividend of 0.08 per share by the conglomerate on Tuesday, October 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 26th.

General Electric has decreased its dividend payment by an average of 52.4% per year over the last three years. General Electric has a payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect General Electric to earn $4.46 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 7.2%.

General Electric Stock Performance

NYSE GE opened at $74.04 on Friday. The company has a fifty day simple moving average of $71.83 and a 200 day simple moving average of $78.49. General Electric has a 12-month low of $59.93 and a 12-month high of $116.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 0.80.

General Electric (NYSE:GEGet Rating) last released its earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.40. The company had revenue of $18.65 billion during the quarter, compared to analyst estimates of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. General Electric’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, sell-side analysts expect that General Electric will post 2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Electric

A number of large investors have recently added to or reduced their stakes in GE. Global Wealth Management Investment Advisory Inc. raised its position in shares of General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 299 shares during the period. Worth Asset Management LLC acquired a new position in General Electric in the first quarter valued at approximately $37,000. Auxier Asset Management acquired a new stake in shares of General Electric during the 1st quarter worth about $220,000. West Family Investments Inc. purchased a new stake in General Electric in the first quarter valued at approximately $230,000. Finally, Wealth Architects LLC boosted its holdings in General Electric by 22.4% during the 1st quarter. Wealth Architects LLC now owns 2,690 shares of the conglomerate’s stock valued at $246,000 after acquiring an additional 492 shares during the period. 67.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GE shares. UBS Group decreased their target price on shares of General Electric from $113.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Sanford C. Bernstein initiated coverage on shares of General Electric in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $100.00 price target for the company. The Goldman Sachs Group cut their price objective on General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Morgan Stanley lowered their price target on shares of General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Finally, Wells Fargo & Company lifted their price objective on General Electric to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $99.15.

About General Electric

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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.

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Dividend History for General Electric (NYSE:GE)

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