Jackson Wealth Management LLC Makes New Investment in General Electric (NYSE:GE)

Jackson Wealth Management LLC bought a new position in shares of General Electric (NYSE:GE) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 1,580 shares of the conglomerate’s stock, valued at approximately $298,000.

Several other large investors also recently bought and sold shares of the stock. Studio Investment Management LLC boosted its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $31,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.2 %

GE stock traded down $0.37 during mid-day trading on Thursday, hitting $181.32. 1,005,137 shares of the company were exchanged, compared to its average volume of 6,362,320. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $198.47 billion, a P/E ratio of 59.51, a PEG ratio of 1.86 and a beta of 1.18. The business has a fifty day simple moving average of $179.51 and a 200-day simple moving average of $168.15. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup upped their price objective 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. Sanford C. Bernstein upped their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Two equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

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.