Jackson Square Capital LLC Trims Stock Position in General Electric (NYSE:GE)

Jackson Square Capital LLC lessened its position in shares of General Electric (NYSE:GE) by 34.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,954 shares of the conglomerate’s stock after selling 3,063 shares during the period. Jackson Square Capital LLC’s holdings in General Electric were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp bought a new position in shares of General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the 3rd quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in General Electric in the 3rd quarter worth about $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 1.7 %

Shares of GE stock opened at $182.83 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $101.16 and a 1-year high of $194.80. The business has a 50-day moving average of $174.33 and a 200 day moving average of $174.00. The stock has a market capitalization of $197.87 billion, a PE ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly 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 business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, sell-side analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GE shares. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research started coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric 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.