Commerce Bank Purchases 1,301 Shares of General Electric (NYSE:GE)

Commerce Bank boosted its position in shares of General Electric (NYSE:GE) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,542 shares of the conglomerate’s stock after purchasing an additional 1,301 shares during the period. Commerce Bank’s holdings in General Electric were worth $9,574,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in General Electric in the 4th quarter valued at about $1,193,159,000. WCM Investment Management LLC purchased a new stake in shares of General Electric in the 4th quarter worth approximately $520,488,000. Lone Pine Capital LLC purchased a new stake in shares of General Electric in the 4th quarter worth approximately $268,519,000. Brown Advisory Inc. lifted its position in shares of General Electric by 62.3% in the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after purchasing an additional 1,873,327 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after purchasing an additional 1,563,484 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their price target 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. Barclays reduced their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Citigroup boosted their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. StockNews.com started coverage on shares of General Electric in a research note on Monday, April 29th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $181.93.

General Electric Stock Up 0.9 %

Shares of NYSE GE traded up $1.51 during midday trading on Wednesday, hitting $164.64. The company’s stock had a trading volume of 1,748,610 shares, compared to its average volume of 7,153,656. The business’s fifty day simple moving average is $162.59 and its two-hundred day simple moving average is $153.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 1 year low of $84.42 and a 1 year high of $170.80. The firm has a market capitalization of $180.22 billion, a price-to-earnings ratio of 53.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.02 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio is currently 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were 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 owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

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.