Jennison Associates LLC Has $45.82 Million Stock Position in General Electric (NYSE:GE)

Jennison Associates LLC decreased its stake in shares of General Electric (NYSE:GE) by 53.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 358,993 shares of the conglomerate’s stock after selling 405,487 shares during the quarter. Jennison Associates LLC’s holdings in General Electric were worth $45,818,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Halpern Financial Inc. increased its position in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of General Electric during the 4th quarter worth approximately $27,000. CGC Financial Services LLC increased its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the last quarter. Capital Analysts LLC increased its holdings in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the last quarter. Finally, Macroview Investment Management LLC increased its holdings in shares of General Electric by 43.4% during the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GE shares. The Goldman Sachs Group started coverage on General Electric in a report on Tuesday, April 9th. They set a “buy” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

General Electric Price Performance

Shares of GE stock opened at $162.62 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. General Electric has a twelve month low of $76.87 and a twelve month high of $163.65. The company has a market cap of $177.79 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.96 and a beta of 1.29. The business has a fifty day simple moving average of $159.94 and a 200 day simple moving average of $135.39.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period in the prior year, the company earned $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.