Bank of Jackson Hole Trust Takes Position in General Electric (NYSE:GE)

Bank of Jackson Hole Trust acquired a new stake in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 806 shares of the conglomerate’s stock, valued at approximately $134,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Jennison Associates LLC increased its stake in shares of General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. International Assets Investment Management LLC increased its stake in shares of General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after buying an additional 3,158,153 shares during the period. Janus Henderson Group PLC increased its stake in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after buying an additional 1,593,413 shares during the period. Franklin Resources Inc. increased its stake in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after buying an additional 973,135 shares during the period. Finally, State Street Corp increased its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after buying an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, Redburn Atlantic began coverage on General Electric in a report on Tuesday. They issued a “buy” rating and a $250.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Price Performance

Shares of NYSE:GE opened at $210.28 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $118.13 and a twelve month high of $212.19. The stock’s 50 day moving average is $185.01 and its 200-day moving average is $180.23. The firm has a market capitalization of $225.69 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Sell-side analysts forecast that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

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.