Ferguson Wellman Capital Management Inc. Sells 2,071 Shares of General Electric (NYSE:GE)

Ferguson Wellman Capital Management Inc. cut its stake in shares of General Electric (NYSE:GE) by 17.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,812 shares of the conglomerate’s stock after selling 2,071 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in General Electric were worth $1,850,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Integris Wealth Management LLC bought a new position in shares of General Electric during the third quarter valued at $209,000. Pelham Capital Ltd. increased its holdings in General Electric by 209.6% in the 3rd quarter. Pelham Capital Ltd. now owns 128,986 shares of the conglomerate’s stock worth $24,324,000 after buying an additional 87,321 shares in the last quarter. TriaGen Wealth Management LLC increased its holdings in General Electric by 9.6% in the 3rd quarter. TriaGen Wealth Management LLC now owns 5,571 shares of the conglomerate’s stock worth $1,051,000 after buying an additional 488 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in General Electric by 13.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 404,294 shares of the conglomerate’s stock worth $76,242,000 after buying an additional 46,390 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in General Electric in the 3rd quarter worth about $566,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 0.0 %

GE stock opened at $192.61 on Friday. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $210.83 billion, a P/E ratio of 63.15, a PEG ratio of 1.86 and a beta of 1.18. The business’s 50-day moving average price is $178.51 and its 200-day moving average price is $167.42.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s payout ratio is currently 36.72%.

Analyst Ratings Changes

Several research firms recently commented on GE. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.