Marsico Capital Management LLC Has $108.53 Million Stock Holdings in General Electric (NYSE:GE)

Marsico Capital Management LLC grew its stake in shares of General Electric (NYSE:GE) by 40.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 682,716 shares of the conglomerate’s stock after purchasing an additional 197,528 shares during the period. General Electric makes up 3.2% of Marsico Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Marsico Capital Management LLC’s holdings in General Electric were worth $108,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC raised its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric in the fourth quarter worth approximately $32,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric during the first quarter valued at approximately $34,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GE shares. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Sanford C. Bernstein began coverage on shares of General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Jefferies Financial Group lifted their target price 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, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric Price Performance

GE stock opened at $180.32 on Wednesday. The firm has a 50 day moving average of $167.28 and a 200-day moving average of $170.87. The firm has a market capitalization 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 has a 12 month low of $84.42 and a 12 month 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.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during 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 business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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. 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 dividend payout ratio (DPR) is currently 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.