General Electric Company (GE) Shares Bought by Bennicas & Associates Inc.
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%.
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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
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