Annex Advisory Services LLC Sells 75 Shares of General Electric (NYSE:GE)

Annex Advisory Services LLC reduced its holdings in shares of General Electric (NYSE:GE) by 1.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,409 shares of the conglomerate’s stock after selling 75 shares during the period. Annex Advisory Services LLC’s holdings in General Electric were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Norges Bank bought a new stake in shares of General Electric during the 4th quarter worth $1,193,159,000. Morgan Stanley increased its holdings in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after purchasing an additional 434,736 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in General Electric by 6.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after purchasing an additional 426,794 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in General Electric by 62.3% in the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock worth $623,058,000 after purchasing an additional 1,873,327 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of GE opened at $159.73 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $174.84 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 1.71 and a beta of 1.23. The stock has a 50 day moving average of $161.89 and a 200 day moving average of $150.77. General Electric has a 12 month low of $82.69 and a 12 month high of $170.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the business posted $0.27 earnings per share. General Electric’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 3.99 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group upped their target price on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Barclays cut their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group increased their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Company 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.