Cadence Bank Makes New Investment in General Electric (NYSE:GE)

Cadence Bank purchased a new position in General Electric (NYSE:GE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,518 shares of the conglomerate’s stock, valued at approximately $266,000.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its holdings in shares of General Electric by 6.4% during the fourth quarter. CoreCap Advisors LLC now owns 5,747 shares of the conglomerate’s stock worth $734,000 after purchasing an additional 346 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of General Electric by 13.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 292,765 shares of the conglomerate’s stock worth $37,366,000 after purchasing an additional 33,762 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of General Electric by 43.0% during the fourth quarter. Pacer Advisors Inc. now owns 105,684 shares of the conglomerate’s stock worth $13,488,000 after purchasing an additional 31,775 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in shares of General Electric by 12.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 2,001 shares of the conglomerate’s stock worth $255,000 after purchasing an additional 218 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in General Electric by 0.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 28,150 shares of the conglomerate’s stock valued at $3,593,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 3.1 %

NYSE GE traded up $5.14 on Friday, reaching $169.81. 7,295,096 shares of the company were exchanged, compared to its average volume of 7,165,607. The business’s fifty day moving average price is $162.16 and its 200 day moving average price is $156.01. The stock has a market capitalization of $184.13 billion, a P/E ratio of 55.68, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts forecast that General Electric will post 4.02 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on GE. UBS Group lifted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Bank of America lifted their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group lifted their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $183.93.

General Electric Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.