Benjamin F. Edwards & Company Inc. Has $5.06 Million Stake in General Electric Company (GE)

Benjamin F. Edwards & Company Inc. cut its holdings in shares of General Electric Company (NYSE:GE) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,370 shares of the conglomerate’s stock after selling 9,731 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in General Electric were worth $5,061,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cubic Asset Management LLC grew its position in shares of General Electric by 1.5% during the second quarter. Cubic Asset Management LLC now owns 234,961 shares of the conglomerate’s stock valued at $6,346,000 after purchasing an additional 3,485 shares in the last quarter. Argyle Capital Management Inc. grew its position in shares of General Electric by 1.4% during the second quarter. Argyle Capital Management Inc. now owns 162,677 shares of the conglomerate’s stock valued at $4,394,000 after purchasing an additional 2,258 shares in the last quarter. OLD Point Trust & Financial Services N A grew its position in shares of General Electric by 1.6% during the second quarter. OLD Point Trust & Financial Services N A now owns 211,208 shares of the conglomerate’s stock valued at $5,705,000 after purchasing an additional 3,342 shares in the last quarter. Shell Asset Management Co. grew its position in shares of General Electric by 2.2% during the second quarter. Shell Asset Management Co. now owns 1,392,298 shares of the conglomerate’s stock valued at $37,606,000 after purchasing an additional 30,341 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC grew its position in shares of General Electric by 217.0% during the second quarter. Balasa Dinverno & Foltz LLC now owns 88,773 shares of the conglomerate’s stock valued at $2,398,000 after purchasing an additional 60,768 shares in the last quarter. 54.61% of the stock is currently owned by institutional investors and hedge funds.

General Electric Company (GE) opened at 21.32 on Friday. The company has a market cap of $184.59 billion, a P/E ratio of 25.97 and a beta of 1.19. General Electric Company has a 52 week low of $21.20 and a 52 week high of $32.38. The company has a 50-day moving average of $23.88 and a 200-day moving average of $26.35.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.73%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same period in the prior year, the business earned $0.32 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts predict that General Electric Company will post $1.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were issued a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.50%. General Electric’s payout ratio is 120.00%.

A number of brokerages have recently weighed in on GE. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a research report on Tuesday, July 4th. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $22.00 price target (down previously from $27.00) on shares of General Electric in a research report on Thursday, July 6th. Standpoint Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a research report on Thursday, June 29th. Cowen and Company reiterated a “hold” rating and issued a $27.00 price target on shares of General Electric in a research report on Monday, July 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a research report on Monday, July 17th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.28.

In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now directly owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by company insiders.

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General Electric Profile

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

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