Fintel reports that on April 20, 2023, Jefferies upgraded their outlook for General Electric (NYSE:GE) from Hold to Buy .
Analyst Price Forecast Suggests 0.31% Downside
As of April 6, 2023, the average one-year price target for General Electric is $98.72. The forecasts range from a low of $85.04 to a high of $115.50. The average price target represents a decrease of 0.31% from its latest reported closing price of $99.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for General Electric is $81,908MM, an increase of 6.99%. The projected annual non-GAAP EPS is $4.38.
General Electric Declares $0.08 Dividend
On February 10, 2023 the company declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of March 7, 2023 will receive the payment on April 25, 2023. Previously, the company paid $0.08 per share.
At the current share price of $99.03 / share, the stock's dividend yield is 0.32%. Looking back five years and taking a sample every week, the average dividend yield has been 1.09%, the lowest has been 0.28%, and the highest has been 7.21%. The standard deviation of yields is 1.62 (n=237).
The current dividend yield is 0.47 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.55. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Other Shareholders Doing?
Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Balanced Fund Class 3 holds 98K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 95K shares, representing an increase of 2.99%. The firm increased its portfolio allocation in GE by 35.32% over the last quarter.
VINIX - Vanguard Institutional Index Fund Institutional Shares holds 7,657K shares representing 0.70% ownership of the company. In it's prior filing, the firm reported owning 7,962K shares, representing a decrease of 3.98%. The firm increased its portfolio allocation in GE by 26.39% over the last quarter.
Advent Claymore Convertible Securities & Income Fund holds 30K shares representing 0.00% ownership of the company.
Staley Capital Advisers holds 5K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 5K shares, representing a decrease of 2.62%. The firm increased its portfolio allocation in GE by 23.42% over the last quarter.
Jpmorgan Chase holds 1,995K shares representing 0.18% ownership of the company. In it's prior filing, the firm reported owning 1,442K shares, representing an increase of 27.73%. The firm increased its portfolio allocation in GE by 71.93% over the last quarter.
What is the Fund Sentiment?
There are 2289 funds or institutions reporting positions in General Electric. This is an increase of 95 owner(s) or 4.33% in the last quarter. Average portfolio weight of all funds dedicated to GE is 0.40%, an increase of 25.06%. Total shares owned by institutions increased in the last three months by 2.50% to 958,390K shares. 
The put/call ratio of GE is 1.34, indicating a bearish outlook.
General Electric Background Information
(This description is provided by the company.)
The General Electric Company (GE) is an American multinational company. For more than 125 years, GE has invented the future of industry. Today, GE is best known for its work in the Power, Renewable Energy, Aviation and Healthcare industries.
See all General Electric regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
