General Electric Declares $0.28 Quarterly Dividend

General Electric (NYSE:GE) has announced a quarterly dividend of $0.28 per share, declared on Friday, December 13th. This payment is set to be distributed to shareholders of record on December 27th, with the dividend being paid out on January 27th of the upcoming year. The annualized dividend totals $1.12, reflecting a dividend yield of 0.67%.

General Electric maintains a dividend payout ratio of 21.4%, indicating that its dividends are well-supported by earnings. Analysts project that the company will earn $5.19 per share next year, suggesting that the company should comfortably cover its annual dividend with an anticipated payout ratio of 21.6%.

Current Stock Performance

On the trading day of the announcement, General Electric saw its stock price increase by 0.7%. The stock traded up by $1.18, pushing its price to $166.01. During this trading session, the volume of shares exchanged was approximately 4,508,819, which is lower than its average volume of 6,123,543 shares. The company boasts a market cap of $179.67 billion, with a P/E ratio of 29.22. The stock has had a one-year low of $95.92 and a high of $194.80. Additionally, its 50-day and 200-day simple moving averages stand at $180.72 and $172.42, respectively. The company's financial metrics include a debt-to-equity ratio of 0.95, a quick ratio of 0.85, and a current ratio of 1.13.

Recent Earnings and Performance

Recently, General Electric released its quarterly earnings report on October 22nd, revealing earnings per share (EPS) of $1.15, which surpassed analyst expectations of $1.13. The company reported revenue of $9.84 billion, significantly higher than the forecasted $9.02 billion. Their net profit margin stood at 11.48%, showcasing a return on equity of 18.93%. This represents a year-on-year revenue increase of 5.8%. In the same quarter last year, General Electric's EPS was reported at $0.82. Analysts currently expect a total EPS of 4.24 for the ongoing fiscal year.

Insider Trading Activities

In recent insider trading activity, Senior Vice President Riccardo Procacci sold 7,000 shares of General Electric on November 6th at an average price of $181.13, totaling $1,267,910. Following this sale, his holdings decreased by 34.50%. Another insider, SVP Russell Stokes, sold 15,550 shares on November 18th, receiving $2,772,409.50 at an average price of $178.29. He now owns 148,857 shares, marking a 9.46% decrease in his holdings. Currently, insiders own 0.66% of the stock.

Analyst Perspectives

In reviewing General Electric, various analysts have updated their perspectives on the stock. Deutsche Bank raised its price target from $212.00 to $235.00, labeling the stock as a "buy". Likewise, Bank of America increased its price target from $180.00 to $200.00, keeping a "buy" rating intact. Wells Fargo similarly adjusted its price objective from $210.00 to $225.00, marking the stock as "overweight". Other firms, including Melius Research and Sanford C. Bernstein, also upped their ratings, with Bernstein elevating its target from $201.00 to $225.00. Currently, two analysts suggest holding the stock while fourteen recommend buying, leading to an average target price of $201.93, with a consensus rating of "Moderate Buy".

About General Electric

General Electric Company, or GE Aerospace, is a multifaceted organization engaged in designing and producing commercial and defense aircraft engines, electric power systems, and mechanical aircraft systems. Furthermore, it offers aftermarket services to support its products, with operations spread across various global regions, including the United States, Europe, China, and more.

General, Electric, Dividend