JPMorgan Chase & Co. reduced its position in shares of Icahn Enterprises L.P. (NASDAQ:IEP) by 33.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,940 shares of the conglomerate’s stock after selling 12,125 shares during the period. JPMorgan Chase & Co.’s holdings in Icahn Enterprises L.P. were worth $1,237,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Texas Yale Capital Corp. lifted its position in shares of Icahn Enterprises L.P. by 2.2% during the 2nd quarter. Texas Yale Capital Corp. now owns 59,695 shares of the conglomerate’s stock worth $3,084,000 after purchasing an additional 1,262 shares during the last quarter. IPG Investment Advisors LLC purchased a new stake in Icahn Enterprises L.P. in the second quarter valued at $207,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Icahn Enterprises L.P. by 8.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 7,500 shares of the conglomerate’s stock valued at $387,000 after acquiring an additional 574 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Icahn Enterprises L.P. by 24.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,924 shares of the conglomerate’s stock valued at $358,000 after acquiring an additional 1,345 shares during the last quarter. Finally, Global X Management Co. LLC lifted its position in Icahn Enterprises L.P. by 4.2% in the second quarter. Global X Management Co. LLC now owns 2,420 shares of the conglomerate’s stock valued at $125,000 after acquiring an additional 97 shares during the last quarter. 96.82% of the stock is owned by institutional investors and hedge funds.
Shares of Icahn Enterprises L.P. (NASDAQ:IEP) opened at 54.91 on Friday. The company has a 50-day moving average of $54.90 and a 200-day moving average of $51.91. Icahn Enterprises L.P. has a 12 month low of $45.87 and a 12 month high of $64.80. The stock has a market capitalization of $9.05 billion, a PE ratio of 6.30 and a beta of 1.73.
Icahn Enterprises L.P. (NASDAQ:IEP) last posted its quarterly earnings results on Tuesday, August 8th. The conglomerate reported $9.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $9.02. Icahn Enterprises L.P. had a net margin of 6.35% and a return on equity of 15.51%. The company had revenue of $6.65 billion for the quarter. On average, equities research analysts expect that Icahn Enterprises L.P. will post $9.91 EPS for the current fiscal year.
IEP has been the subject of a number of research reports. BidaskClub cut shares of Icahn Enterprises L.P. from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC reissued a “buy” rating and issued a $61.00 price target on shares of Icahn Enterprises L.P. in a research report on Wednesday, August 9th. Finally, TheStreet raised shares of Icahn Enterprises L.P. from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Icahn Enterprises L.P. has a consensus rating of “Hold” and an average price target of $50.50.
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Icahn Enterprises L.P. Company Profile
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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