Geode Capital Management LLC reduced its stake in shares of Icahn Enterprises LP (NASDAQ:IEP) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,799 shares of the conglomerate’s stock after selling 3,469 shares during the quarter. Geode Capital Management LLC owned about 0.06% of Icahn Enterprises worth $5,395,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of IEP. Mutual Advisors LLC bought a new position in shares of Icahn Enterprises during the 4th quarter valued at about $606,000. Arlington Partners LLC bought a new position in shares of Icahn Enterprises during the 4th quarter valued at about $569,000. Wells Fargo & Company MN lifted its holdings in shares of Icahn Enterprises by 11.4% during the 3rd quarter. Wells Fargo & Company MN now owns 95,188 shares of the conglomerate’s stock valued at $5,222,000 after purchasing an additional 9,738 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Icahn Enterprises by 61.1% during the 4th quarter. Virtu Financial LLC now owns 16,611 shares of the conglomerate’s stock valued at $880,000 after purchasing an additional 6,302 shares in the last quarter. Finally, Ballew Advisors Inc bought a new position in shares of Icahn Enterprises during the 4th quarter valued at about $240,000. Institutional investors own 97.68% of the company’s stock.
IEP has been the topic of several research reports. BidaskClub cut Icahn Enterprises from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 20th. UBS restated a “sell” rating and issued a $45.00 target price (up previously from $42.00) on shares of Icahn Enterprises in a research note on Tuesday, March 6th. Finally, ValuEngine upgraded Icahn Enterprises from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Icahn Enterprises presently has an average rating of “Hold” and a consensus target price of $53.00.
NASDAQ IEP opened at $61.99 on Wednesday. The company has a market capitalization of $10,668.03, a price-to-earnings ratio of 4.17 and a beta of 1.59. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 0.98. Icahn Enterprises LP has a 52 week low of $47.06 and a 52 week high of $63.00.
Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Thursday, March 1st. The conglomerate reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $1.16. The firm had revenue of $4.73 billion for the quarter. Icahn Enterprises had a return on equity of 23.08% and a net margin of 10.98%.
The company also recently announced a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Monday, March 12th were paid a $1.75 dividend. This is a boost from Icahn Enterprises’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, March 9th. This represents a $7.00 annualized dividend and a yield of 11.29%.
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Icahn Enterprises Company Profile
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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