- NYSE:GE added 2.05% on Tuesday amidst another unsettled day for the broader markets.
- On Friday, General Electric announced a 1% dividend for shareholders.
- Wall Street analysts continue to add bullish sentiment to the iconic conglomerate.
It took an entire year, but NYSE:GE has finally recovered to its pre-pandemic price levels and Wall Street is becoming increasingly bullish on the nearly 130-year old company. On Tuesday, the stock gained 2.05% to close the trading session at $11.97, even as the broader markets remained rocky and ended the day in the red. Shares are now within reach of the 52-week high price of $12.95, a level which has not been seen since January of 2020. The stock is still down 8% over that period, compared to a return of 16.75% by the S&P 500 index.
On Friday, General Electric happily announced a quarterly dividend for its shareholders, another sign that companies are seeing the light at the end of the COVID-19 tunnel. While the dividend is small at just $0.01 per share, it represents a confirmation of General Electric’s forecast of being free-cash flow positive for 2021. Recently, GE CEO Lawrence Culp stated that Q1 of 2021 would still see negative free-cash flow, the rest of the year looks brighter, especially as the dormant aviation sector of General Electric starts up again.
GE stock dividend news
The recent performance of General Electric even has some long-timer bearish analysts raising their eyebrows. A long-time GE analyst from JPMorgan has finally agreed that the strides that Culp and company have taken are positive and that General Electric is in a much better position than a few years ago. It still isn’t enough to raise the price target of $5.00, nor raise his rating to a buy, but anything remotely positive is an improvement.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Some contention seems to have emerged near 0.6500
Another day, another pullback in AUD/USD. This time the pair dropped to multi-week lows and approached the key 0.6500 support, always on the back of weak commodity prices and concerns surrounding the Chinese economy.
EUR/USD: Downside halted near the 200-day SMA
EUR/USD regained some balance and left behind two consecutive daily declines, advancing to the 1.0870 region following the indecisive price action in the US Dollar ahead of key PCE data due on Friday.
Gold challenges critical support
Gold remains under selling pressure on Thursday, trading near a fresh multi-week low of $2,357.92. The bright metal eased throughout the first half of the day amid a dismal market mood. Equities led the way, falling on the back of weak earning reports and a sharp slide in the tech sector.
SEC vs. Ripple lawsuit closed-door meeting could result in resolution, XRP hovers around $0.62
Ripple hovers above key support at $0.62 as traders await a resolution in the US Securities & Exchange Commission lawsuit. The meeting is scheduled to occur behind closed doors on July 25. According to pro-crypto attorney Fred Rispoli, the lawsuit against Ripple could end by July 2024.
Buying on a market decline
In today’s TradeGATEHub Live Trading session, Coach Dale inquires about the specific issues Michael Venezia was buying during the recent market decline. Dale also provides a detailed analysis of precious metals, sharing his insights on potential downside targets.