General Electric (NYSE:GE) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its position in shares of General Electric (NYSE:GE) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,878,650 shares of the conglomerate’s stock after purchasing an additional 106,891 shares during the quarter. Jennison Associates LLC owned 0.73% of General Electric worth $1,314,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GE. International Assets Investment Management LLC grew 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 worth $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC grew its position in General Electric by 505.8% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its stake in General Electric by 206.5% during the 3rd 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. State Street Corp raised its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of General Electric by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after acquiring an additional 457,038 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. UBS Group lifted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup raised their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.73.

General Electric Stock Performance

Shares of NYSE:GE opened at $203.59 on Monday. General Electric has a 1 year low of $105.70 and a 1 year high of $207.65. The stock has a market capitalization of $220.35 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company’s 50 day simple moving average is $177.41 and its 200 day simple moving average is $176.54.

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

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 18.70%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.