Home Federal Bank of Tennessee Takes Position in General Electric (NYSE:GE)

Home Federal Bank of Tennessee purchased a new stake in shares of General Electric (NYSE:GE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,376 shares of the conglomerate’s stock, valued at approximately $242,000.

Several other institutional investors have also recently made changes to their positions in GE. Halpern Financial Inc. increased its stake in shares of General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new position in General Electric in the fourth quarter valued at about $27,000. CGC Financial Services LLC grew its stake in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC grew its stake in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC purchased a new position in General Electric in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and lifted their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Barclays cut their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price target on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.36.

General Electric Stock Performance

Shares of General Electric stock traded down $1.53 on Friday, reaching $158.97. 8,641,197 shares of the stock were exchanged, compared to its average volume of 6,007,353. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80. The firm has a market capitalization of $174.01 billion, a price-to-earnings ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.23. The business has a 50 day moving average price of $162.36 and a two-hundred day moving average price of $151.37.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that General Electric will post 4 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.