Benedict Financial Advisors Inc. Has $851,000 Stake in General Electric Company (GE)
Benedict Financial Advisors Inc. lowered its stake in shares of General Electric Company (NYSE:GE) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,572 shares of the conglomerate’s stock after selling 523 shares during the period. Benedict Financial Advisors Inc.’s holdings in General Electric were worth $851,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in General Electric during the fourth quarter valued at $2,383,193,000. Trustees of General Electric Pension Trust bought a new stake in General Electric during the fourth quarter valued at $1,038,590,000. Teachers Advisors LLC boosted its stake 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 during the period. Asset Management One Co. Ltd. boosted its stake in General Electric by 848.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 15,458,705 shares of the conglomerate’s stock valued at $488,626,000 after buying an additional 13,828,422 shares during the period. Finally, Aviva PLC boosted its stake in General Electric by 2.4% in the fourth quarter. Aviva PLC now owns 7,262,148 shares of the conglomerate’s stock valued at $229,775,000 after buying an additional 169,825 shares during the period. Hedge funds and other institutional investors own 54.31% of the company’s stock.
General Electric Company (NYSE:GE) traded down 0.81% during midday trading on Friday, reaching $24.55. 34,273,076 shares of the company traded hands. General Electric Company has a one year low of $24.44 and a one year high of $32.38. The company has a 50 day moving average price of $25.95 and a 200-day moving average price of $28.34. The stock has a market capitalization of $212.55 billion, a P/E ratio of 29.90 and a beta of 1.21.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Analysts forecast that General Electric Company will post $1.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
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GE has been the topic of a number of analyst reports. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price on the stock in a research report on Wednesday, June 7th. Argus decreased their target price on shares of General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Stifel Nicolaus lifted their target price on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Citigroup Inc. reiterated a “buy” rating and issued a $34.00 target price (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Finally, UBS AG reiterated a “buy” rating and issued a $31.00 target price (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and an average target price of $30.08.
In other news, insider Alexander Dimitrief purchased 1,845 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was acquired at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the sale, the insider now directly owns 175,717 shares in the company, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. Insiders acquired 133,253 shares of company stock valued at $3,404,264 in the last quarter. 0.36% of the stock is currently owned by company insiders.
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