Commonwealth Financial Services LLC Invests $209,000 in General Electric (NYSE:GE)

Commonwealth Financial Services LLC purchased a new stake in shares of General Electric (NYSE:GE) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,275 shares of the conglomerate’s stock, valued at approximately $209,000.

Other institutional investors have also recently made changes to their positions in the company. DRW Securities LLC increased its stake in General Electric by 9.3% in the second quarter. DRW Securities LLC now owns 2,423 shares of the conglomerate’s stock valued at $361,000 after acquiring an additional 206 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of General Electric by 7.4% during the second quarter. EverSource Wealth Advisors LLC now owns 5,359 shares of the conglomerate’s stock worth $912,000 after acquiring an additional 371 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of General Electric by 277.2% in the 2nd quarter. Gabelli Funds LLC now owns 332,348 shares of the conglomerate’s stock worth $52,833,000 after acquiring an additional 244,248 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of General Electric by 6.8% in the 2nd quarter. Fidelis Capital Partners LLC now owns 5,601 shares of the conglomerate’s stock valued at $908,000 after purchasing an additional 359 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of General Electric by 3,827.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,100,463 shares of the conglomerate’s stock valued at $174,941,000 after purchasing an additional 1,072,443 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $188.71 on Tuesday. 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 has a one year low of $84.42 and a one year high of $189.78. The company has a market capitalization of $206.56 billion, a price-to-earnings ratio of 61.87, a PEG ratio of 1.65 and a beta of 1.18. The stock has a 50-day moving average of $169.27 and a 200 day moving average of $170.43.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on GE shares. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada increased their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group boosted their price objective 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. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

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.