Commerzbank Aktiengesellschaft FI Raises Stake in General Electric (NYSE:GE)

Commerzbank Aktiengesellschaft FI raised its stake in General Electric (NYSE:GE) by 20.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,638 shares of the conglomerate’s stock after buying an additional 12,713 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in General Electric were worth $14,075,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of General Electric by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock worth $17,054,000 after purchasing an additional 2,055 shares during the period. RFG Advisory LLC grew its holdings in shares of General Electric by 35.9% during the 1st quarter. RFG Advisory LLC now owns 2,848 shares of the conglomerate’s stock worth $500,000 after purchasing an additional 753 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of General Electric by 14.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 18,944 shares of the conglomerate’s stock worth $3,325,000 after purchasing an additional 2,323 shares during the period. Mcdonald Partners LLC purchased a new position in shares of General Electric during the 1st quarter worth $438,000. Finally, CFM Wealth Partners LLC purchased a new position in shares of General Electric during the 1st quarter worth $205,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a report on Tuesday. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised their target price on General Electric from $190.00 to $210.00 in a report on Tuesday. Citigroup raised their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.53.

General Electric Trading Up 3.0 %

NYSE:GE opened at $181.91 on Wednesday. The company has a market cap of $199.12 billion, a PE ratio of 58.08, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $179.24 and its two-hundred day moving average is $168.05.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

About General Electric

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.