Zions Bancorporation boosted its holdings in General Electric (NYSE:GE) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,244 shares of the conglomerate’s stock after purchasing an additional 8,463 shares during the period. Zions Bancorporation’s holdings in General Electric were worth $2,279,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Ffcm LLC purchased a new position in General Electric in the second quarter worth $114,000. MPS Loria Financial Planners LLC bought a new stake in shares of General Electric in the second quarter valued at $113,000. Corbenic Partners LLC raised its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares during the period. Bristlecone Advisors LLC bought a new stake in shares of General Electric in the third quarter valued at $164,000. Finally, Tuttle Tactical Management LLC bought a new stake in shares of General Electric in the second quarter valued at $209,000. 56.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric (NYSE:GE) opened at $14.94 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a one year low of $13.95 and a one year high of $30.54. The stock has a market capitalization of $131,020.00, a price-to-earnings ratio of -49.80, a P/E/G ratio of 2.83 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.21%. General Electric’s payout ratio is -160.00%.
In related news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.
GE has been the topic of several research reports. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research note on Wednesday, January 10th. Bank of America restated a “buy” rating and issued a $23.00 target price (down from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Morningstar restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Citigroup set a $25.00 target price on General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus target price of $18.44.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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