Catalina Capital Group LLC Acquires 243 Shares of General Electric (NYSE:GE)

Catalina Capital Group LLC raised its stake in shares of General Electric (NYSE:GE) by 7.5% during the third quarter, HoldingsChannel reports. The firm owned 3,468 shares of the conglomerate’s stock after buying an additional 243 shares during the quarter. Catalina Capital Group LLC’s holdings in General Electric were worth $654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Norden Group LLC purchased a new stake in shares of General Electric in the first quarter valued at $234,000. GSA Capital Partners LLP boosted its position in shares of General Electric by 186.6% during the first quarter. GSA Capital Partners LLP now owns 6,082 shares of the conglomerate’s stock valued at $1,068,000 after buying an additional 3,960 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of General Electric during the first quarter valued at approximately $254,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter worth approximately $34,000. Finally, Csenge Advisory Group lifted its stake in shares of General Electric by 28.7% during the 1st quarter. Csenge Advisory Group now owns 8,165 shares of the conglomerate’s stock worth $1,433,000 after acquiring an additional 1,821 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GE. Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $175.26 on Wednesday. The company has a market cap of $189.68 billion, a PE ratio of 30.80, a P/E/G ratio of 1.70 and a beta of 1.19. 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 business has a 50-day simple moving average of $180.29 and a two-hundred day simple moving average of $169.51. General Electric has a fifty-two week low of $86.83 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. As a group, equities analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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

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.