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

Jennison Associates LLC grew its position in shares of General Electric (NYSE:GE) by 91.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,771,759 shares of the conglomerate’s stock after purchasing an additional 3,719,894 shares during the period. General Electric makes up about 0.9% of Jennison Associates LLC’s holdings, making the stock its 25th largest holding. Jennison Associates LLC owned about 0.72% of General Electric worth $1,465,598,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. PCJ Investment Counsel Ltd. lifted its stake in General Electric by 12.3% during the third quarter. PCJ Investment Counsel Ltd. now owns 19,090 shares of the conglomerate’s stock worth $3,600,000 after purchasing an additional 2,090 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in General Electric during the third quarter worth $854,000. Prospera Private Wealth LLC acquired a new position in General Electric during the third quarter worth $1,480,000. Thompson Davis & CO. Inc. increased its position in shares of General Electric by 7.1% during the third quarter. Thompson Davis & CO. Inc. now owns 3,569 shares of the conglomerate’s stock worth $673,000 after acquiring an additional 237 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of General Electric by 5.0% during the third quarter. Avior Wealth Management LLC now owns 10,353 shares of the conglomerate’s stock worth $1,952,000 after acquiring an additional 491 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE:GE opened at $177.56 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $192.17 billion, a P/E ratio of 31.20, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The company has a 50-day moving average price of $182.75 and a 200 day moving average price of $170.91.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Research analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GE shares. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

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.