Benedict Financial Advisors Inc. Has $579,000 Stake in General Electric (GE)
Benedict Financial Advisors Inc. reduced its position in General Electric (NYSE:GE) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,926 shares of the conglomerate’s stock after selling 2,483 shares during the period. Benedict Financial Advisors Inc.’s holdings in General Electric were worth $579,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in General Electric by 21.3% during the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after purchasing an additional 593,686 shares in the last quarter. Warren Averett Asset Management LLC grew its position in General Electric by 7.0% during the second quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Destination Wealth Management grew its position in General Electric by 5.6% during the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Rockland Trust Co. grew its position in General Electric by 8.6% during the second quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after purchasing an additional 16,309 shares in the last quarter. Finally, Stoneridge Investment Partners LLC grew its position in General Electric by 23.4% during the second quarter. Stoneridge Investment Partners LLC now owns 325,787 shares of the conglomerate’s stock valued at $8,800,000 after purchasing an additional 61,746 shares in the last quarter. 55.63% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on GE shares. Argus lowered their price objective on shares of General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Royal Bank of Canada reissued a “buy” rating and issued a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price for the company. in a research report on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 target price on shares of General Electric in a research report on Thursday, October 12th. Finally, Bank of America raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Monday, October 23rd. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average price target of $23.39.
In related news, Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, the director now directly owns 5,500 shares in the company, valued at $100,320. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock valued at $2,183,220 over the last 90 days. 0.36% of the stock is owned by corporate insiders.
Shares of General Electric (NYSE GE) opened at $18.54 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a one year low of $17.25 and a one year high of $31.77. The firm has a market cap of $160,780.47, a price-to-earnings ratio of 23.18, a PEG ratio of 2.05 and a beta of 1.07.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts anticipate that General Electric will post 1.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 60.00%.
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About General Electric
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