Jackson Square Capital LLC Takes $1.70 Million Position in General Electric (NYSE:GE)

Jackson Square Capital LLC acquired a new position in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,017 shares of the conglomerate’s stock, valued at approximately $1,700,000.

Several other institutional investors have also recently added to or reduced their stakes in GE. Mackenzie Financial Corp boosted its position in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares during the period. Marietta Investment Partners LLC purchased a new position in General Electric during the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC grew its position in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Senator Investment Group LP acquired a new position in General Electric in the 2nd quarter valued at about $34,973,000. Finally, Blair William & Co. IL increased 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 worth $28,928,000 after purchasing an additional 7,670 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America boosted their price target 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. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 3.2 %

NYSE GE opened at $180.80 on Thursday. General Electric has a 12 month low of $88.68 and a 12 month high of $194.80. The company has a market capitalization of $195.68 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm’s fifty day moving average price is $180.47 and its 200 day moving average price is $169.59.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’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 earnings per share. On average, sell-side analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced 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 0.62%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.