Venturi Wealth Management LLC Has $425,000 Stock Holdings in General Electric (NYSE:GE)

Venturi Wealth Management LLC reduced its position in shares of General Electric (NYSE:GE) by 47.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,252 shares of the conglomerate’s stock after selling 2,054 shares during the quarter. Venturi Wealth Management LLC’s holdings in General Electric were worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Studio Investment Management LLC lifted its position in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the third quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the second quarter valued at approximately $31,000. Finally, Costello Asset Management INC grew its holdings in General Electric by 92.0% during the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.0 %

GE stock opened at $182.64 on Wednesday. General Electric has a twelve month low of $91.77 and a twelve month high of $194.80. The firm has a market capitalization of $197.67 billion, a PE ratio of 32.10, a PEG ratio of 1.82 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a 50-day simple moving average of $180.98 and a two-hundred day simple moving average of $170.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. On average, equities analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.