Hancock Whitney Corp Sells 267 Shares of General Electric (NYSE:GE)

Hancock Whitney Corp lowered its position in shares of General Electric (NYSE:GE) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,964 shares of the conglomerate’s stock after selling 267 shares during the period. Hancock Whitney Corp’s holdings in General Electric were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its position in General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares during the period. Mackenzie Financial Corp grew its stake in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC bought a new position in General Electric during the second quarter worth about $1,569,000. GAMMA Investing LLC raised its stake in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP bought a new stake in General Electric in the 2nd quarter valued at about $34,973,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on GE shares. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 0.5 %

GE opened at $180.21 on Tuesday. The company has a market cap of $195.04 billion, a P/E ratio of 31.67, a PEG ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $183.20 and its 200-day moving average is $171.22. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.82 earnings per share. Equities research analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio is currently 19.68%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

About General Electric

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.