Fintel reports that on July 31, 2023, Oppenheimer downgraded their outlook for General Electric (NYSE:GE) from Outperform to Perform.

Analyst Price Forecast Suggests 3.06% Downside

As of July 6, 2023, the average one-year price target for General Electric is 110.89. The forecasts range from a low of 85.04 to a high of $131.25. The average price target represents a decrease of 3.06% from its latest reported closing price of 114.39.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for General Electric is 81,908MM, an increase of 1.20%. The projected annual non-GAAP EPS is 4.38.

General Electric Declares $0.08 Dividend

On June 30, 2023 the company declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of July 11, 2023 received the payment on July 25, 2023. Previously, the company paid $0.08 per share.

At the current share price of $114.39 / share, the stock’s dividend yield is 0.28%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.91%, the lowest has been 0.28%, and the highest has been 7.21%. The standard deviation of yields is 1.51 (n=236).

The current dividend yield is 0.42 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.04. 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 is the Fund Sentiment?

There are 2414 funds or institutions reporting positions in General Electric. This is an increase of 112 owner(s) or 4.87% in the last quarter. Average portfolio weight of all funds dedicated to GE is 0.38%, a decrease of 9.21%. Total shares owned by institutions increased in the last three months by 4.28% to 1,006,390K shares. The put/call ratio of GE is 1.13, indicating a bearish outlook.

What are Other Shareholders Doing?

Capital Research Global Investors holds 104,316K shares representing 9.68% ownership of the company. In it’s prior filing, the firm reported owning 102,093K shares, representing an increase of 2.13%. The firm increased its portfolio allocation in GE by 10.08% over the last quarter.

Capital International Investors holds 54,106K shares representing 5.02% ownership of the company. In it’s prior filing, the firm reported owning 24,058K shares, representing an increase of 55.54%. The firm increased its portfolio allocation in GE by 145.92% over the last quarter.

Price T Rowe Associates holds 46,666K shares representing 4.33% ownership of the company. In it’s prior filing, the firm reported owning 54,400K shares, representing a decrease of 16.57%. The firm decreased its portfolio allocation in GE by 3.01% over the last quarter.

AIVSX – INVESTMENT CO OF AMERICA holds 45,044K shares representing 4.18% ownership of the company. In it’s prior filing, the firm reported owning 42,219K shares, representing an increase of 6.27%. The firm increased its portfolio allocation in GE by 15.81% over the last quarter.

Dodge & Cox holds 34,581K shares representing 3.21% ownership of the company. In it’s prior filing, the firm reported owning 37,177K shares, representing a decrease of 7.50%. The firm increased its portfolio allocation in GE by 5.46% over the last quarter.

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.

This article originally appeared on Fintel

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