General Electric plans to slice quarterly dividend in half

General Electric plans to slice quarterly dividend in half

General Electric plans to slice quarterly dividend in half

Struggling American industrial giant, General Electric will slash its dividend by 50%, focus on three of its biggest business lines, may sell down its 60% plus stake in Baker Hughes, the third biggest U.S. oil services group, but won't break up the company completely. The institutional investor held 285,101 shares of the consumer electronics and appliances company at the end of 2017Q2, valued at $7.70 million, down from 305,967 at the end of the previous reported quarter. General Electric has a 1 year low of $19.63 and a 1 year high of $32.38. The stock declined 1.81% or $0.37 reaching $20.12 on the news.

Shares fell 3.6pc in early trading to $19.72 as investors anxious how the slimmed-down company would generate cash to justify its stock valuation. Barclays Capital downgraded Portland General Electric Company (NYSE:POR) rating on Monday, January 4. It has underperformed by 4.16% the S&P500.

Presenting his reshaping programme to investors, Flannery indicated that he was looking to "focus the portfolio" around the power, aviation and healthcare markets, plus additive manufacturing, as he battles to turn around a business that has seen its stock market value fall by 35% this year, or more than US$100bn.

GE is one of America's most widely held stocks, and countless shareholders, including retirees, rely on the dividend payments.

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The stock decreased 3.75% or $0.09 on November 10, reaching $2.31. About 42.76 million shares traded. ADMA Biologics Inc (ADMA) has declined 37.56% since November 12, 2016 and is downtrending. It has outperformed by 52.99% the S&P500.

Among 7 analysts covering Portland General Electric (NYSE:POR), 1 have Buy rating, 4 Sell and 2 Hold. Therefore 31% are positive.

POR has been the subject of several research analyst reports. The firm has "Buy" rating given on Tuesday, June 13 by Stifel Nicolaus. The rating was maintained by S&P Research with "Buy" on Monday, August 17. The stock has "Neutral" rating by JP Morgan on Wednesday, November 1. The firm earned "Market Perform" rating on Tuesday, July 26 by Bernstein. RBC Capital Markets has "Buy" rating and $5000 target. Oppenheimer maintained the stock with "Hold" rating in Monday, July 24 report. Its down 0.03, from 0.82 in 2017Q1.

The logo of General Electric pictured at the Global Operations Center in San Pedro Garza Garcia, neighbouring Monterrey, Mexico, on May 12, 2017. Brown Brothers Harriman Communication holds 409,969 shares. 652,510 were reported by Kornitzer Capital Mngmt Ks. Miracle Mile Limited Co invested in 0.05% or 9,781 shares. Girard Ptnrs Ltd invested in 112,386 shares. 9,806 are owned by State Of Alaska Department Of Revenue. Wms Partners Llc, a Maryland-based fund reported 529,683 shares. Ledyard Bankshares has invested 0.22% in BB&T Corporation (NYSE:BBT). Mackenzie holds 0.06% or 219,907 shares in its portfolio. First Merchants has 73,990 shares. IMMELT JEFFREY R had bought 100,000 shares worth $2.81M.

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Investors sentiment increased to 1.38 in Q2 2017. Capital World Investors raised its holdings in shares of General Electric by 8.6% in the 2nd quarter.

Other hedge funds also recently added to or reduced their stakes in the company. (The) set a $22.00 target price on General Electric and gave the company a "neutral" rating in a research report on Tuesday, November 7th. Walter & Keenan Consulting Mi Adv has 245,110 shares for 3.32% of their portfolio.

While looking at the Stock's Performance, General Electric Company now shows a Weekly Performance of 0.25%, where Monthly Performance is -13.35%, Quarterly performance is -20.67%, 6 Months performance is -29.29% and yearly performance percentage is -32.53%. General Electric Co. The company's 50-day moving average is $30.61 and its 200 day moving average is $30.59. The Alabama-based Croft has invested 1.28% in General Electric Company (NYSE:GE). New York-based Taurus Asset Lc has invested 1.21% in General Electric Company (NYSE:GE). Portland General Electric's payout ratio is 59.13%. Citizens Northern accumulated 1.87% or 88,153 shares. Umb Comml Bank N A Mo invested in 0.42% or 444,989 shares. Insiders own 0.23% of the company's stock. Kemnay Advisory Svcs Inc stated it has 0.03% in General Electric Company (NYSE:GE). Bluemountain Mgmt Limited Liability Company invested in 77,432 shares.

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