General Electric (NYSE:GE) Sets New 1-Year High Following Dividend Announcement

General Electric (NYSE:GE)’s stock price hit a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $180.48 and last traded at $178.88, with a volume of 727320 shares traded. The stock had previously closed at $178.28.

The newly announced dividend which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market capitalization of $197.38 billion, a price-to-earnings ratio of 59.12, a P/E/G ratio of 1.65 and a beta of 1.18. The firm has a fifty day moving average of $167.28 and a 200-day moving average of $170.87.

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

Hedge Funds Weigh In On General Electric

Institutional investors and hedge funds have recently made changes to their positions in the business. Macroview Investment Management LLC boosted its holdings in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Allegheny Financial Group LTD grew its position in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares in the last quarter. New England Research & Management Inc. increased its stake in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares during the period. Certified Advisory Corp lifted its position in shares of General Electric by 1.0% in the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after acquiring an additional 63 shares during the period. Finally, Argent Trust Co grew its holdings in shares of General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after purchasing an additional 64 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.