Home Federal Bank of Tennessee Has $335,000 Stock Holdings in General Electric (NYSE:GE)

Home Federal Bank of Tennessee raised its stake in General Electric (NYSE:GE) by 18.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,776 shares of the conglomerate’s stock after acquiring an additional 275 shares during the quarter. Home Federal Bank of Tennessee’s holdings in General Electric were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC increased its position in General Electric by 5.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 10,364 shares of the conglomerate’s stock worth $1,954,000 after buying an additional 513 shares during the period. Ledyard National Bank increased its stake in General Electric by 26.9% during the 3rd quarter. Ledyard National Bank now owns 2,511 shares of the conglomerate’s stock worth $474,000 after acquiring an additional 532 shares during the period. Precision Wealth Strategies LLC grew its holdings in shares of General Electric by 27.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 15,324 shares of the conglomerate’s stock worth $2,890,000 after purchasing an additional 3,284 shares in the last quarter. Copeland Capital Management LLC bought a new position in General Electric in the 3rd quarter valued at about $48,000. Finally, Horst & Graben Wealth Management LLC bought a new stake in General Electric during the third quarter worth $226,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.53.

General Electric Trading Down 8.4 %

Shares of NYSE GE traded down $16.31 during mid-day trading on Tuesday, reaching $177.92. 5,054,012 shares of the company’s stock were exchanged, compared to its average volume of 6,319,912. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company’s 50-day moving average is $179.06 and its 200-day moving average is $167.91. The firm has a market capitalization of $194.75 billion, a price-to-earnings ratio of 58.50, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s payout ratio is currently 36.72%.

General Electric Company Profile

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.