Bennicas & Associates Inc. raised its position in General Electric Company (NYSE:GE) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 14,830 shares of the conglomerate’s stock after buying an additional 330 shares during the period. Bennicas & Associates Inc.’s holdings in General Electric were worth $401,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in General Electric during the fourth quarter valued at $2,383,193,000. Harris Associates L P raised its position in General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in General Electric by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after buying an additional 776,656 shares in the last quarter. Teachers Advisors LLC raised its position in General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Finally, Bank of Montreal Can raised its position in General Electric by 11.0% in the second quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after buying an additional 1,005,937 shares in the last quarter. 54.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Electric Company (NYSE:GE) traded up 0.219% on Wednesday, hitting $25.195. The stock had a trading volume of 11,847,912 shares. The stock has a market cap of $218.14 billion, a P/E ratio of 30.688 and a beta of 1.21. General Electric Company has a 1-year low of $25.05 and a 1-year high of $32.38. The firm’s 50-day moving average is $26.15 and its 200 day moving average is $28.43.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. Equities analysts forecast that General Electric Company will post $1.57 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.82%. General Electric’s dividend payout ratio (DPR) is 118.52%.

WARNING: “General Electric Company (GE) Shares Bought by Bennicas & Associates Inc.” was posted by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.watchlistnews.com/general-electric-company-ge-shares-bought-by-bennicas-associates-inc/1496137.html.

GE has been the topic of several research analyst reports. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $28.93 price objective on the stock in a research note on Wednesday, June 7th. Argus reduced their price objective on General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, April 24th. Stifel Nicolaus lifted their price objective on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $34.00 price objective (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Finally, UBS AG reaffirmed a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. General Electric presently has a consensus rating of “Hold” and a consensus price target of $30.08.

In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James E. Rohr purchased 27,425 shares of the business’s stock in a transaction on Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 133,253 shares of company stock valued at $3,404,264. Insiders own 0.36% of the company’s stock.

About General Electric

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with Analyst Ratings Network's FREE daily email newsletter.