Commonwealth Equity Services LLC Has $41.84 Million Holdings in General Electric (NYSE:GE)

Commonwealth Equity Services LLC lowered its stake in shares of General Electric (NYSE:GE) by 6.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 327,823 shares of the conglomerate’s stock after selling 23,275 shares during the period. Commonwealth Equity Services LLC’s holdings in General Electric were worth $41,840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. increased its holdings in General Electric by 1.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after acquiring an additional 74 shares during the last quarter. Atlas Brown Inc. increased its holdings in shares of General Electric by 1.0% in the fourth quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after purchasing an additional 85 shares during the last quarter. Capital Analysts LLC lifted its position in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares in the last quarter. Capital Investment Counsel Inc boosted its stake in General Electric by 2.2% during the fourth quarter. Capital Investment Counsel Inc now owns 4,031 shares of the conglomerate’s stock valued at $514,000 after buying an additional 88 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in General Electric by 9.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock valued at $131,000 after buying an additional 91 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Trading Up 0.9 %

Shares of NYSE GE traded up $1.47 during midday trading on Friday, hitting $164.11. The company’s stock had a trading volume of 3,968,626 shares, compared to its average volume of 7,987,890. The business’s 50 day moving average is $161.72 and its two-hundred day moving average is $137.50. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market cap of $179.64 billion, a P/E ratio of 53.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. As a group, equities research analysts expect that General Electric will post 3.96 EPS for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.68%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Jefferies Financial Group upped their price target on shares of General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Argus lifted their price objective on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their price target on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.