Commonwealth Equity Services LLC Has $76.24 Million Holdings in General Electric (NYSE:GE)

Commonwealth Equity Services LLC increased its stake in shares of General Electric (NYSE:GE) by 13.0% during the third quarter, HoldingsChannel.com reports. The fund owned 404,294 shares of the conglomerate’s stock after purchasing an additional 46,390 shares during the period. Commonwealth Equity Services LLC’s holdings in General Electric were worth $76,242,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC bought a new stake in General Electric during the second quarter valued at about $2,613,332,000. Capital World Investors boosted its stake in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Capital International Investors grew its holdings in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board increased its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric during the second quarter worth approximately $580,200,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

General Electric stock opened at $192.61 on Friday. The firm has a market capitalization of $210.83 billion, a P/E ratio of 63.15, a P/E/G ratio of 1.86 and a beta of 1.18. The stock has a fifty day moving average price of $178.51 and a two-hundred day moving average price of $167.42. General Electric has a 52-week low of $84.42 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

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, topping analysts’ consensus estimates of $0.99 by $0.21. The business 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. As a group, analysts anticipate that General Electric will post 4.2 EPS for the current fiscal 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 issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is presently 36.72%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Royal Bank of Canada raised their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

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.