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

Hancock Whitney Corp reduced its stake in General Electric (NYSE:GE) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC acquired a new position in shares of General Electric during the 2nd quarter worth about $2,613,332,000. Legal & General Group Plc increased its stake in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Jennison Associates LLC raised its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of General Electric by 12.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate’s stock worth $774,458,000 after purchasing an additional 457,038 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of General Electric by 0.4% in the 3rd quarter. Swiss National Bank now owns 3,249,062 shares of the conglomerate’s stock valued at $612,708,000 after buying an additional 12,200 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of several research analyst reports. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada dropped 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insiders Place Their Bets

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

General Electric Price Performance

NYSE:GE opened at $180.21 on Tuesday. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80. The company has a market cap of $195.04 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock’s 50-day simple moving average is $183.20 and its 200 day simple moving average is $171.22.

General Electric (NYSE:GE) last posted its quarterly 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

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

General Electric Company 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.