Iberiabank Corp Acquires 14,226 Shares of General Electric Company (GE)
Iberiabank Corp increased its holdings in shares of General Electric Company (NYSE:GE) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,928 shares of the conglomerate’s stock after buying an additional 14,226 shares during the period. General Electric accounts for about 1.8% of Iberiabank Corp’s investment portfolio, making the stock its 11th biggest holding. Iberiabank Corp’s holdings in General Electric were worth $6,102,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of GE. Atria Investments LLC grew its holdings in General Electric by 4.8% during the second quarter. Atria Investments LLC now owns 181,993 shares of the conglomerate’s stock valued at $4,916,000 after purchasing an additional 8,318 shares during the period. Oakmont Partners LLC grew its holdings in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 278 shares during the period. Koshinski Asset Management Inc. grew its holdings in General Electric by 4.1% during the second quarter. Koshinski Asset Management Inc. now owns 95,487 shares of the conglomerate’s stock valued at $2,579,000 after purchasing an additional 3,719 shares during the period. City Holding Co. grew its holdings in General Electric by 8.5% during the second quarter. City Holding Co. now owns 145,815 shares of the conglomerate’s stock valued at $3,937,000 after purchasing an additional 11,395 shares during the period. Finally, Perkins Coie Trust Co grew its holdings in General Electric by 21.4% during the second quarter. Perkins Coie Trust Co now owns 53,947 shares of the conglomerate’s stock valued at $1,457,000 after purchasing an additional 9,527 shares during the period. 54.71% of the stock is owned by institutional investors and hedge funds.
In other General Electric news, insider Alexander Dimitrief purchased 1,845 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now owns 65,597 shares in the company, valued at approximately $1,675,347.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Leonard Flannery purchased 103,983 shares of General Electric stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. In the last three months, insiders purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is currently owned by insiders.
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Shares of General Electric Company (GE) traded up 0.438% during mid-day trading on Monday, hitting $24.979. 16,123,649 shares of the stock were exchanged. The stock’s 50 day moving average price is $24.74 and its 200-day moving average price is $27.46. The stock has a market capitalization of $216.27 billion, a P/E ratio of 30.425 and a beta of 1.22. General Electric Company has a 12-month low of $23.58 and a 12-month high of $32.38. General Electric also was the target of some unusual options trading activity on Friday. Traders purchased 40,639 put options on the stock. This is an increase of approximately 184% compared to the typical volume of 14,299 put options.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter last year, the firm posted $0.51 EPS. General Electric’s revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts expect that General Electric Company will post $1.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is currently 118.52%.
GE has been the subject of a number of analyst reports. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the company a “sell” rating in a report on Monday, May 29th. Credit Suisse Group decreased their price objective on shares of General Electric from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, June 1st. They noted that the move was a valuation call. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 price objective for the company in a report on Wednesday, June 7th. Cowen and Company restated a “market perform” rating and set a $30.00 price objective on shares of General Electric in a report on Tuesday, June 13th. Finally, Bank of America Corporation restated a “neutral” rating and set a $31.00 price objective on shares of General Electric in a report on Tuesday, June 13th. Five research 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’s stock. General Electric has an average rating of “Hold” and an average price target of $28.98.
General Electric Company Profile
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