Commerzbank Aktiengesellschaft FI Has $9.84 Million Position in General Electric (NYSE:GE)

Commerzbank Aktiengesellschaft FI lifted its position in General Electric (NYSE:GE) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 61,925 shares of the conglomerate’s stock after purchasing an additional 6,091 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in General Electric were worth $9,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the first quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd bought a new stake in General Electric during the 1st quarter worth approximately $37,000. Criterion Capital Advisors LLC acquired a new stake in General Electric during the 4th quarter valued at $27,000. Capital Analysts LLC raised its position in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Horrell Capital Management Inc. acquired a new position in General Electric in the first quarter worth $44,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GE. Argus lifted their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Citigroup upped their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Bank of America increased their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Trading Down 0.6 %

GE traded down $0.99 during midday trading on Tuesday, reaching $169.94. 2,573,487 shares of the company were exchanged, compared to its average volume of 6,893,465. The stock has a market capitalization of $186.02 billion, a P/E ratio of 55.72, a PEG ratio of 1.70 and a beta of 1.21. General Electric has a one year low of $84.42 and a one year high of $177.20. The stock’s 50-day simple moving average is $163.60 and its 200 day simple moving average is $160.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during 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 revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, analysts forecast that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.