General Electric (NYSE:GE) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its holdings in shares of General Electric (NYSE:GEGet Rating) by 4.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,552 shares of the conglomerate’s stock after selling 445 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in General Electric were worth $672,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Strategic Financial Services Inc increased its holdings in General Electric by 2.8% in the fourth quarter. Strategic Financial Services Inc now owns 3,810 shares of the conglomerate’s stock valued at $360,000 after purchasing an additional 104 shares during the last quarter. Tandem Capital Management Corp ADV increased its holdings in shares of General Electric by 0.9% in the first quarter. Tandem Capital Management Corp ADV now owns 13,373 shares of the conglomerate’s stock worth $1,191,000 after acquiring an additional 125 shares in the last quarter. Hanson & Doremus Investment Management increased its holdings in shares of General Electric by 2.0% in the first quarter. Hanson & Doremus Investment Management now owns 6,864 shares of the conglomerate’s stock worth $628,000 after acquiring an additional 132 shares in the last quarter. Woodstock Corp increased its holdings in shares of General Electric by 0.7% in the first quarter. Woodstock Corp now owns 20,295 shares of the conglomerate’s stock worth $1,857,000 after acquiring an additional 134 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of General Electric by 1.6% in the first quarter. Assenagon Asset Management S.A. now owns 8,679 shares of the conglomerate’s stock worth $794,000 after acquiring an additional 134 shares in the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GE shares. Morgan Stanley reduced their price objective on General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Barclays dropped their price objective on General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Credit Suisse Group lowered their target price on General Electric from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. The Goldman Sachs Group lowered their target price on General Electric from $108.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $90.00 to $88.00 in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.15.

General Electric Stock Performance

General Electric stock opened at $65.36 on Friday. General Electric has a twelve month low of $59.93 and a twelve month high of $116.17. The company has a quick ratio of 0.80, a current ratio of 1.13 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $72.91 and its 200-day moving average price is $77.09. The company has a market cap of $71.67 billion, a PE ratio of -15.42, a price-to-earnings-growth ratio of 3.40 and a beta of 1.09.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.40. The firm had revenue of $18.65 billion during the quarter, compared to analysts’ expectations of $17.90 billion. General Electric had a negative net margin of 5.94% and a positive return on equity of 7.50%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities research analysts forecast that General Electric will post 2.74 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 26th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. General Electric’s payout ratio is currently -7.55%.

General Electric Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

See Also

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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