Jennison Associates LLC Sells 405,487 Shares of General Electric (NYSE:GE)

Jennison Associates LLC lowered its position in shares of General Electric (NYSE:GE) by 53.0% in the 4th quarter, according to the company in its most recent Form 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 period. Jennison Associates LLC’s holdings in General Electric were worth $45,818,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Atlas Brown Inc. lifted its stake in General Electric by 1.0% in the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after purchasing an additional 85 shares in the last quarter. Capital Analysts LLC grew its holdings in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of General Electric by 9.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock worth $131,000 after acquiring an additional 91 shares in the last quarter. Ballast Advisors LLC grew its holdings in shares of General Electric by 4.8% in the fourth quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock valued at $254,000 after purchasing an additional 91 shares in the last quarter. Finally, King Wealth increased its position in General Electric by 3.2% in the third quarter. King Wealth now owns 2,988 shares of the conglomerate’s stock worth $330,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $162.62 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The firm’s 50 day moving average price is $159.94 and its 200-day moving average price is $135.39. General Electric has a 52-week low of $76.87 and a 52-week high of $163.65. The company has a market cap of $177.79 billion, a PE ratio of 19.43, a P/E/G ratio of 2.96 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. 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 paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio (DPR) is 13.38%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Vertical Research initiated coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Royal Bank of Canada dropped their target price on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group initiated coverage on shares of General Electric in a research note on Tuesday, April 9th. They issued a “buy” rating and a $190.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $160.07.

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.