Jackson Square Capital LLC Sells 3,063 Shares of General Electric (NYSE:GE)

Jackson Square Capital LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 34.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the third quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the 3rd quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $182.83 on Friday. The company has a market capitalization of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80. The company has a 50-day simple moving average of $174.33 and a 200 day simple moving average of $174.00.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. On average, research analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

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

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Bank of America raised their price target 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. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

General Electric Company 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.