General Electric Company (GE) Position Cut by Cadence Bank NA

Cadence Bank NA decreased its position in General Electric Company (NYSE:GE) by 17.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,651 shares of the conglomerate’s stock after selling 41,752 shares during the quarter. General Electric accounts for approximately 2.5% of Cadence Bank NA’s portfolio, making the stock its 5th largest position. Cadence Bank NA’s holdings in General Electric were worth $5,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harris Associates L P grew its stake in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after acquiring an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of General Electric by 2.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after purchasing an additional 776,656 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of General Electric by 0.9% during the second quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after purchasing an additional 159,600 shares in the last quarter. US Bancorp DE grew its stake in shares of General Electric by 2.2% during the second quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after purchasing an additional 243,034 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of General Electric by 11.0% during the second quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock worth $274,401,000 after purchasing an additional 1,005,937 shares in the last quarter. 54.38% of the stock is currently owned by institutional investors.

In related news, Director James S. Tisch bought 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.

General Electric Company (NYSE:GE) opened at $20.49 on Friday. The stock has a market cap of $173,354.97, a PE ratio of 16.12, a P/E/G ratio of 2.09 and a beta of 1.11. General Electric Company has a 1-year low of $19.63 and a 1-year high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. analysts predict that General Electric Company will post 1.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were given a dividend of $0.24 per share. The ex-dividend date was Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 4.69%. General Electric’s payout ratio is currently 120.00%.

A number of equities analysts recently commented on GE shares. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price for the company. in a research note on Wednesday, September 13th. UBS AG reiterated a “buy” rating and set a $31.00 target price (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Stifel Nicolaus lowered their target price on shares of General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $31.00 target price (down previously from $34.00) on shares of General Electric in a research note on Monday, July 24th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $31.00 target price on shares of General Electric in a research note on Friday, September 15th. Six analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.55.

COPYRIGHT VIOLATION NOTICE: This report was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2017/11/12/cadence-bank-na-has-5-39-million-stake-in-general-electric-company-ge.html.

General Electric Profile

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

Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply