GE Makes First Dividend Cut Since Depression

15 November, 2017, 01:24 | Author: Lester Mason
  • General Electric plans to slice quarterly dividend in half

Moreover, Regentatlantic Lc has 0.02% invested in Portland General Electric Company (NYSE:POR). BerganKDV Wealth Management LLC raised its position in General Electric by 0.3% in the 2nd quarter. PHH Investments Ltd. boosted its position in General Electric by 105.0% during the 1st quarter. The institutional investor held 1.03 million shares of the semiconductors company at the end of 2017Q2, valued at $1.50 million, up from 520,000 at the end of the previous reported quarter. Firsthand Capital Management Inc bought 510,000 shares as the company's stock declined 17.37% while stock markets rallied. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate's stock worth $219,000 after acquiring an additional 220 shares during the last quarter. IFP Advisors Inc lifted its holdings in General Electric by 1.4% during the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate's stock valued at $251,000 after purchasing an additional 25 shares during the last quarter. This works out to a net decrease in ownership of 12.11 million shares, and suggests that institutions are feeling bearish about the stock.

Mr Flannery said GE's underlying earnings per share, which the company had been targeting at $2 for next year, are now expected to be in a range of just $US1-$US1.07, little changed from this year's expected earnings of $US1.04-$US1.12. The stock has a market capitalization of $164,940.00, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. General Electric Company (NYSE:GE) has declined 4.46% since November 14, 2016 and is downtrending. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). The company has market cap of $4.35 billion. The company had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $32.51 billion. They expect $0.78 EPS, down 11.36% or $0.10 from last year's $0.88 per share. But the quarterly dividend will be cut in half to 12 U.S. cents a share. Its shares have declined almost 40 percent year to date through Monday versus the S&P 500's 15.5 percent return. This represents a $0.96 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, December 22nd. General Electric's dividend payout ratio (DPR) is now 80.00%. Nexus Investment Management Inc. increased its position in General Electric by 1.2% in the third quarter. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of worldwide trademark and copyright laws. Wms Partners Llc, a Maryland-based fund reported 529,683 shares. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Following the completion of the transaction, the chairman now directly owns 2,248,688 shares in the company, valued at approximately $65,751,637.12.

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GE also plans to cut 25 percent of corporate staff at its Boston headquarters. Portland General Electric had 14 analyst reports since July 28, 2015 according to SRatingsIntel. Citigroup Inc. reiterated a "buy" rating and set a $31.00 price target (down from $34.00) on shares of General Electric in a research report on Monday, July 24th. Ladenburg maintained it with "Buy" rating and $48.0 target in Tuesday, September 19 report.

General Electric Company (NYSE:GE) has been given a $22.00 price objective by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday.

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