Marsico Capital Management LLC Acquires 197,528 Shares of General Electric (NYSE:GE)

Marsico Capital Management LLC raised its holdings in General Electric (NYSE:GE) by 40.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 682,716 shares of the conglomerate’s stock after buying an additional 197,528 shares during the period. General Electric accounts for about 3.2% of Marsico Capital Management LLC’s portfolio, making the stock its 13th largest holding. Marsico Capital Management LLC owned about 0.06% of General Electric worth $108,531,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its position in General Electric by 15.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 87,014 shares of the conglomerate’s stock worth $13,175,000 after acquiring an additional 11,536 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of General Electric by 7.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,457 shares of the conglomerate’s stock valued at $3,411,000 after purchasing an additional 1,424 shares during the period. Argent Trust Co lifted its stake in General Electric by 0.6% in the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after purchasing an additional 64 shares during the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in General Electric by 20.4% during the second quarter. Meiji Yasuda Life Insurance Co now owns 64,398 shares of the conglomerate’s stock worth $10,237,000 after purchasing an additional 10,927 shares during the period. Finally, Disciplined Investments LLC acquired a new position in General Electric during the second quarter worth approximately $222,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GE shares. UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein started coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Performance

NYSE:GE opened at $180.32 on Wednesday. The stock’s 50-day moving average is $167.28 and its 200-day moving average is $170.87. General Electric has a 1-year low of $84.42 and a 1-year high of $182.43. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $197.38 billion, a P/E ratio of 59.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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

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.