Annex Advisory Services LLC Raises Holdings in General Electric (NYSE:GE)

Annex Advisory Services LLC lifted its holdings in shares of General Electric (NYSE:GE) by 2.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,507 shares of the conglomerate’s stock after purchasing an additional 98 shares during the period. Annex Advisory Services LLC’s holdings in General Electric were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GE. Criterion Capital Advisors LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $27,000. Capital Analysts LLC grew its holdings in shares of General Electric by 55.8% in 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 period. Bfsg LLC acquired a new stake in shares of General Electric in the 4th quarter worth approximately $32,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric in the 4th quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the 1st quarter worth approximately $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of GE traded up $1.52 during midday trading on Friday, reaching $167.13. The stock had a trading volume of 2,770,097 shares, compared to its average volume of 7,044,665. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $182.94 billion, a P/E ratio of 54.80, a P/E/G ratio of 1.70 and a beta of 1.21. The firm’s 50 day moving average price is $162.56 and its 200-day moving average price is $158.81. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. On average, analysts forecast that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.71.

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.