Venture Visionary Partners LLC Sells 118 Shares of General Electric (NYSE:GE)

Venture Visionary Partners LLC lessened its stake in General Electric (NYSE:GE) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 5,304 shares of the conglomerate’s stock after selling 118 shares during the period. Venture Visionary Partners LLC’s holdings in General Electric were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of General Electric by 0.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 37,734 shares of the conglomerate’s stock valued at $7,116,000 after buying an additional 108 shares during the period. Whittier Trust Co. increased its holdings in General Electric by 25.8% in the 3rd quarter. Whittier Trust Co. now owns 10,532 shares of the conglomerate’s stock worth $1,986,000 after acquiring an additional 2,161 shares during the last quarter. Western Financial Corp CA raised its stake in General Electric by 13.0% in the 3rd quarter. Western Financial Corp CA now owns 14,527 shares of the conglomerate’s stock valued at $2,740,000 after acquiring an additional 1,672 shares during the period. Little House Capital LLC raised its stake in General Electric by 4.4% in the 3rd quarter. Little House Capital LLC now owns 2,241 shares of the conglomerate’s stock valued at $423,000 after acquiring an additional 95 shares during the period. Finally, Genesee Capital Advisors LLC lifted its holdings in General Electric by 172.3% during the third quarter. Genesee Capital Advisors LLC now owns 4,942 shares of the conglomerate’s stock valued at $932,000 after purchasing an additional 3,127 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 9.1 %

Shares of GE opened at $176.59 on Wednesday. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The company has a market capitalization of $193.30 billion, a P/E ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $179.24 and its 200 day simple moving average is $168.05.

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 the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. Sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GE. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.53.

General Electric 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.