Catalina Capital Group LLC Raises Stock Position in General Electric (NYSE:GE)

Catalina Capital Group LLC lifted its stake in General Electric (NYSE:GE) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,468 shares of the conglomerate’s stock after purchasing an additional 243 shares during the period. Catalina Capital Group LLC’s holdings in General Electric were worth $654,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GE. Mackenzie Financial Corp lifted its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the period. Marietta Investment Partners LLC purchased a new position in shares of General Electric during the second quarter valued at approximately $1,569,000. GAMMA Investing LLC boosted its position in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares in the last quarter. Senator Investment Group LP bought a new position in General Electric during the 2nd quarter valued at approximately $34,973,000. Finally, Blair William & Co. IL raised its stake in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after buying an additional 7,670 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

NYSE GE opened at $175.26 on Wednesday. General Electric has a fifty-two week low of $86.83 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $189.68 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The business’s fifty day moving average is $180.29 and its 200 day moving average is $169.51.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s payout ratio is 19.68%.

General Electric Company 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.