1,275 Shares in General Electric (NYSE:GE) Bought by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC acquired a new stake in shares of General Electric (NYSE:GE) in the 2nd quarter, Holdings Channel reports. The firm acquired 1,275 shares of the conglomerate’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aveo Capital Partners LLC purchased a new stake in shares of General Electric in the fourth quarter worth approximately $203,000. Gryphon Financial Partners LLC grew its position in General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after acquiring an additional 4,354 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in General Electric by 5.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,059 shares of the conglomerate’s stock worth $263,000 after purchasing an additional 111 shares during the period. Cape Investment Advisory Inc. lifted its position in shares of General Electric by 24.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,828 shares of the conglomerate’s stock worth $233,000 after purchasing an additional 358 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of General Electric during the fourth quarter valued at $301,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.36.

General Electric Price Performance

NYSE GE opened at $188.71 on Tuesday. The firm’s fifty day simple moving average is $169.27 and its two-hundred day simple moving average is $170.43. The firm has a market capitalization of $206.56 billion, a P/E ratio of 61.87, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.42 and a 12-month high of $189.78.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. Analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.