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

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

General Electric has a dividend payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE:GE opened at $188.71 on Tuesday. The firm has a market capitalization of $206.56 billion, a price-to-earnings ratio of 61.87, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $189.78. The firm’s fifty day simple moving average is $169.27 and its 200 day simple moving average is $170.43. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GE shares. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Sanford C. Bernstein started coverage on shares of General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $191.36.

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.