CenturyLink Investment Management Co Lowers Position in General Electric Company (GE)
CenturyLink Investment Management Co lessened its stake in General Electric Company (NYSE:GE) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,707 shares of the conglomerate’s stock after selling 5,679 shares during the quarter. General Electric makes up approximately 0.7% of CenturyLink Investment Management Co’s portfolio, making the stock its 29th biggest holding. CenturyLink Investment Management Co’s holdings in General Electric were worth $2,207,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of GE. First American Bank raised its holdings in shares of General Electric by 5.2% in the 1st quarter. First American Bank now owns 151,855 shares of the conglomerate’s stock worth $4,525,000 after purchasing an additional 7,468 shares during the period. Stillwater Investment Management LLC raised its holdings in shares of General Electric by 2.0% in the 1st quarter. Stillwater Investment Management LLC now owns 98,283 shares of the conglomerate’s stock worth $2,929,000 after purchasing an additional 1,947 shares during the period. Fenimore Asset Management Inc. raised its holdings in shares of General Electric by 5.9% in the 1st quarter. Fenimore Asset Management Inc. now owns 17,257 shares of the conglomerate’s stock worth $514,000 after purchasing an additional 962 shares during the period. Home Federal Bank of Tennessee raised its holdings in shares of General Electric by 6.7% in the 1st quarter. Home Federal Bank of Tennessee now owns 70,586 shares of the conglomerate’s stock worth $2,103,000 after purchasing an additional 4,415 shares during the period. Finally, Capital Asset Advisory Services LLC raised its holdings in shares of General Electric by 5.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 10,905 shares of the conglomerate’s stock worth $325,000 after purchasing an additional 600 shares during the period. 54.71% of the stock is currently owned by institutional investors.
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Shares of General Electric Company (GE) traded down 0.25% on Friday, reaching $24.18. 33,673,712 shares of the company traded hands. General Electric Company has a 1-year low of $23.58 and a 1-year high of $32.38. The firm has a market capitalization of $209.35 billion, a P/E ratio of 29.45 and a beta of 1.22. The stock has a 50-day moving average price of $24.74 and a 200 day moving average price of $27.46.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. General Electric’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. Analysts anticipate that General Electric Company will post $1.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 3.97%. General Electric’s payout ratio is 118.52%.
A number of research firms recently commented on GE. Vetr raised shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 price target on the stock in a report on Monday. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a report on Monday, July 17th. CIBC reiterated a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.63.
In related news, CEO John Leonard Flannery bought 103,983 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $633,375.45. Following the transaction, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. Insiders have purchased 233,253 shares of company stock valued at $5,860,264 over the last ninety days. 0.36% of the stock is currently owned by corporate insiders.
About General Electric
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