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

by · The Markets Daily

Jackson Square Capital LLC acquired a new stake in shares of General Electric (NYSE:GE – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,017 shares of the conglomerate’s stock, valued at approximately $1,700,000.

Other hedge funds have also recently made changes to their positions in the company. Norden Group LLC purchased a new stake in shares of General Electric in the 1st quarter valued at $234,000. GSA Capital Partners LLP boosted its holdings in General Electric by 186.6% in the first quarter. GSA Capital Partners LLP now owns 6,082 shares of the conglomerate’s stock valued at $1,068,000 after purchasing an additional 3,960 shares during the last quarter. Advisory Alpha LLC acquired a new stake in General Electric during the 1st quarter worth about $281,000. Advisory Services Network LLC raised its stake in shares of General Electric by 15.8% during the 1st quarter. Advisory Services Network LLC now owns 43,060 shares of the conglomerate’s stock valued at $7,558,000 after buying an additional 5,888 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of General Electric by 3.5% in the 1st quarter. Empirical Finance LLC now owns 39,263 shares of the conglomerate’s stock valued at $6,892,000 after buying an additional 1,311 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on GE. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein raised their price target 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. Finally, Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

Get Our Latest Stock Report on GE

General Electric Stock Up 3.2 %

NYSE GE opened at $180.80 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $88.68 and a 52 week high of $194.80. The business’s fifty day simple moving average is $180.47 and its 200-day simple moving average is $169.59. The firm has a market cap of $195.68 billion, a PE ratio of 31.78, a P/E/G ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. As a group, equities analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced 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 of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 19.68%.

General Electric Company Profile

(Free Report)

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.

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