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.
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