Jackson Wealth Management LLC Buys New Stake in General Electric (NYSE:GE)

Jackson Wealth Management LLC bought a new stake in shares of General Electric (NYSE:GE) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,580 shares of the conglomerate’s stock, valued at approximately $298,000.

Several other institutional investors also recently bought and sold shares of GE. Wellington Management Group LLP grew its stake in shares of General Electric by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock worth $17,054,000 after buying an additional 2,055 shares in the last quarter. Brookstone Capital Management grew its stake in shares of General Electric by 14.4% in the 1st quarter. Brookstone Capital Management now owns 21,347 shares of the conglomerate’s stock worth $3,747,000 after buying an additional 2,682 shares in the last quarter. Sovereign Financial Group Inc. grew its stake in shares of General Electric by 74.9% in the 1st quarter. Sovereign Financial Group Inc. now owns 2,934 shares of the conglomerate’s stock worth $515,000 after buying an additional 1,256 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of General Electric by 6.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,377 shares of the conglomerate’s stock worth $1,646,000 after buying an additional 579 shares in the last quarter. Finally, Investment Partners LTD. purchased a new position in shares of General Electric in the 1st quarter worth $257,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Down 0.2 %

Shares of NYSE:GE traded down $0.37 during trading hours on Thursday, hitting $181.32. The company’s stock had a trading volume of 1,005,137 shares, compared to its average volume of 6,362,320. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $198.47 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 1.86 and a beta of 1.18. The firm’s fifty day moving average price is $179.51 and its 200 day moving average price is $168.15.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS 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 analyst estimates of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. As a group, research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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

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.