Commerzbank Aktiengesellschaft FI Increases Holdings in General Electric (NYSE:GE)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of General Electric (NYSE:GE) by 496.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,584 shares of the conglomerate’s stock after buying an additional 75,404 shares during the period. General Electric accounts for about 0.1% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 19th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in General Electric were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Watson Rebecca purchased a new stake in shares of General Electric during the 2nd quarter valued at $34,000. Evolution Wealth Advisors LLC increased its position in shares of General Electric by 58.2% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 5,689 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 2,092 shares during the period. Old North State Trust LLC acquired a new position in shares of General Electric in the 3rd quarter valued at $38,000. JJJ Advisors Inc. increased its position in shares of General Electric by 377.7% in the 3rd quarter. JJJ Advisors Inc. now owns 6,244 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 4,937 shares during the period. Finally, Lenox Wealth Advisors LLC increased its position in shares of General Electric by 43.0% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 6,655 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 59.95% of the company’s stock.

General Electric stock traded down $0.25 during trading on Monday, hitting $7.38. The company had a trading volume of 2,020,070 shares, compared to its average volume of 97,054,758. General Electric has a 1-year low of $5.48 and a 1-year high of $13.26. The company has a current ratio of 2.21, a quick ratio of 1.95 and a debt-to-equity ratio of 2.05. The company’s 50 day simple moving average is $6.53 and its 200-day simple moving average is $6.66. The stock has a market cap of $66.79 billion, a price-to-earnings ratio of -13.15 and a beta of 0.92.

General Electric (NYSE:GE) last posted its earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.06). The company had revenue of $17.75 billion during the quarter, compared to analyst estimates of $17.27 billion. General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, analysts forecast that General Electric will post -0.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, September 28th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.54%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

Several equities research analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $6.25 to $6.81 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. reaffirmed a “fair value” rating on shares of General Electric in a research report on Monday, August 31st. Oppenheimer reaffirmed a “hold” rating on shares of General Electric in a research report on Monday, August 3rd. UBS Group increased their price target on General Electric from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cowen reaffirmed a “hold” rating and set a $7.00 price target on shares of General Electric in a research report on Monday, October 19th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $9.12.

In other General Electric news, Director Trian Fund Management, L.P. sold 15,569,158 shares of General Electric stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $6.14, for a total value of $95,594,630.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward P. Garden sold 3,264,481 shares of General Electric stock in a transaction on Friday, July 31st. The shares were sold at an average price of $6.09, for a total transaction of $19,880,689.29. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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