General Electric (NYSE:GE) Stake Boosted by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC increased its position in shares of General Electric (NYSE:GE) by 117.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270 shares of the conglomerate’s stock after acquiring an additional 146 shares during the period. Catalyst Capital Advisors LLC’s holdings in General Electric were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in shares of 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 purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC bought a new stake in shares of General Electric during the 2nd quarter worth about $1,569,000. GAMMA Investing LLC grew its position in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new stake in General Electric in the 2nd quarter valued at $34,973,000. Finally, Blair William & Co. IL grew its position in General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GE shares. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have issued 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

Shares of GE stock opened at $180.80 on Thursday. The firm’s 50 day moving average price is $180.47 and its two-hundred day moving average price is $169.59. The stock has a market cap of $195.68 billion, a PE ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19. General Electric has a 52-week low of $88.68 and a 52-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.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend 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.