Home Federal Bank of Tennessee lessened its stake in General Electric Company (NYSE:GE) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,321 shares of the conglomerate’s stock after selling 7,265 shares during the quarter. General Electric accounts for 0.9% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 25th largest position. Home Federal Bank of Tennessee’s holdings in General Electric were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sabal Trust CO grew its stake in General Electric by 5.4% in the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after acquiring an additional 55,049 shares during the last quarter. Smithbridge Asset Management Inc. DE grew its stake in General Electric by 47.2% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after acquiring an additional 10,025 shares during the last quarter. Rothschild Investment Corp IL grew its stake in General Electric by 2.4% in the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after acquiring an additional 10,906 shares during the last quarter. Windsor Financial Group LLC grew its stake in General Electric by 497.6% in the 1st quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after acquiring an additional 130,275 shares during the last quarter. Finally, Private Capital Management Inc. grew its stake in General Electric by 15.6% in the 2nd quarter. Private Capital Management Inc. now owns 27,850 shares of the conglomerate’s stock valued at $752,000 after acquiring an additional 3,750 shares during the last quarter. Institutional investors and hedge funds own 54.71% of the company’s stock.

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General Electric Company (NYSE:GE) traded down 1.51% on Tuesday, reaching $24.09. 19,836,005 shares of the company traded hands. The firm has a 50 day moving average price of $24.78 and a 200 day moving average price of $27.50. The stock has a market capitalization of $208.57 billion, a price-to-earnings ratio of 29.34 and a beta of 1.22. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38. General Electric also saw some unusual options trading on Monday. Stock traders acquired 40,129 call options on the stock. This is an increase of approximately 145% compared to the typical daily volume of 16,397 call options.

General Electric (NYSE:GE) last released 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. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that General Electric Company will post $1.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders 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 3.92%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.

A number of brokerages recently commented on GE. Vetr cut shares of General Electric from a “buy” rating to a “sell” rating and set a $23.72 price objective on the stock. in a research note on Tuesday. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the company a “sell” rating in a research note on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $27.00 price objective on shares of General Electric in a research note on Monday, July 17th. CIBC reissued a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $28.98.

In other news, CEO John Leonard Flannery purchased 103,983 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 233,253 shares of company stock worth $5,860,264. Company insiders own 0.36% of the company’s stock.

About General Electric

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

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