Ferguson Wellman Capital Management Inc. decreased its holdings in General Electric (NYSE:GE) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,003 shares of the conglomerate’s stock after selling 14,106 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in General Electric were worth $1,627,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. CWH Capital Management Inc. acquired a new stake in General Electric in the fourth quarter worth $5,932,000. Caption Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at $568,000. Equitec Specialists LLC acquired a new position in shares of General Electric during the fourth quarter valued at $238,000. Foster & Motley Inc. increased its holdings in shares of General Electric by 27.1% during the fourth quarter. Foster & Motley Inc. now owns 19,205 shares of the conglomerate’s stock valued at $145,000 after purchasing an additional 4,092 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in shares of General Electric by 10.1% during the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 74,457 shares of the conglomerate’s stock valued at $564,000 after purchasing an additional 6,826 shares during the period. Hedge funds and other institutional investors own 57.85% of the company’s stock.
In related news, Director Edward P. Garden sold 3,370,314 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $9.53, for a total value of $32,119,092.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $250,500. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.
GE has been the topic of a number of research analyst reports. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. UBS Group set a $115.00 price target on Entergy and gave the company a “buy” rating in a report on Monday, July 15th. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. William Blair reissued a “buy” rating on shares of General Electric in a report on Thursday, June 13th. Finally, Deutsche Bank lowered Cogent Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.62.
GE stock traded up $0.08 during trading hours on Friday, hitting $10.51. 9,169,269 shares of the stock traded hands, compared to its average volume of 38,654,276. The firm has a 50-day moving average of $10.31. General Electric has a one year low of $6.66 and a one year high of $13.78. The firm has a market capitalization of $93.14 billion, a P/E ratio of 16.16, a P/E/G ratio of 2.43 and a beta of 1.03. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62.
General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The business had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. During the same quarter last year, the business posted $0.16 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts anticipate that General Electric will post 0.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were given a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. General Electric’s dividend payout ratio (DPR) is 6.15%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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