Consolidated Capital Management LLC Has $7.26 Million Stock Holdings in General Electric (NYSE:GE)

Consolidated Capital Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 38,486 shares of the conglomerate’s stock after selling 106 shares during the period. General Electric comprises 3.2% of Consolidated Capital Management LLC’s holdings, making the stock its 14th biggest holding. Consolidated Capital Management LLC’s holdings in General Electric were worth $7,258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp grew 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 worth $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC acquired a new stake in shares of General Electric in the second quarter valued at $1,569,000. GAMMA Investing LLC raised its holdings 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 buying an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new position in General Electric during the 2nd quarter worth about $34,973,000. Finally, Blair William & Co. IL grew its holdings in General Electric by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after acquiring an additional 7,670 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GE. Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Stock Up 0.8 %

Shares of NYSE:GE opened at $193.78 on Thursday. General Electric has a 52-week low of $84.42 and a 52-week high of $194.80. The company has a market capitalization of $212.11 billion, a PE ratio of 63.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a fifty day moving average of $177.46 and a 200-day moving average of $166.91.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. On average, equities analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is presently 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.