General Electric (NYSE:GE) Shares Acquired by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC grew its holdings in shares of General Electric (NYSE:GE) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the conglomerate’s stock after purchasing an additional 462 shares during the period. Catalytic Wealth RIA LLC’s holdings in General Electric were worth $490,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric during the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. Richardson Financial Services Inc. purchased a new position in General Electric in the 1st quarter worth $34,000. Finally, Macroview Investment Management LLC raised its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Price Performance

NYSE GE traded up $1.04 during trading hours on Friday, reaching $174.62. The company’s stock had a trading volume of 5,295,576 shares, compared to its average volume of 6,756,916. The firm has a market capitalization of $191.14 billion, a price-to-earnings ratio of 57.25, a P/E/G ratio of 1.70 and a beta of 1.21. The company’s 50-day moving average is $165.18 and its two-hundred day moving average is $162.52. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the company posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that General Electric will post 4.15 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.