Ferguson Wellman Capital Management Inc. Has $2.22 Million Stake in General Electric (NYSE:GE)

Ferguson Wellman Capital Management Inc. lowered its stake in General Electric (NYSE:GE) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,763 shares of the conglomerate’s stock after selling 120 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in General Electric were worth $2,218,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Studio Investment Management LLC grew its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric during the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $31,000. Finally, Costello Asset Management INC lifted its stake in shares of General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 80 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 2.8 %

GE stock opened at $178.38 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market capitalization of $193.06 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.81 and a beta of 1.19. General Electric has a fifty-two week low of $92.58 and a fifty-two week high of $194.80. The business has a 50-day moving average of $181.69 and a 200-day moving average of $170.43.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GE. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.