General Electric (NYSE:GE) Stock Price Up 0.1% Following Dividend Announcement

General Electric (NYSE:GE)’s share price rose 0.1% during trading on Monday following a dividend announcement from the company. The stock traded as high as $209.16 and last traded at $208.62. Approximately 4,267,083 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 6,009,583 shares. The stock had previously closed at $208.36.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

Analyst Ratings Changes

Several research analysts have commented on the company. Northcoast Research assumed coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a 50 day simple moving average of $182.66 and a 200 day simple moving average of $179.40. The company has a market capitalization of $223.91 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts anticipate that General Electric will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On General Electric

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after buying an additional 410,172 shares during the period. FMR LLC boosted its position in General Electric by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate’s stock valued at $11,145,570,000 after buying an additional 965,012 shares during the last quarter. State Street Corp lifted its position in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Finally, Norges Bank bought a new position in shares of General Electric during the fourth quarter worth about $2,375,439,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.