Kornitzer Capital Management Inc. KS Has $1.27 Million Stake in General Electric (NYSE:GE)

Kornitzer Capital Management Inc. KS raised its position in General Electric (NYSE:GE) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,610 shares of the conglomerate’s stock after purchasing an additional 88 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in General Electric were worth $1,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the third quarter valued at about $28,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of General Electric in the third quarter valued at about $30,000. Finally, Hager Investment Management Services LLC acquired a new position in General Electric during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Citigroup boosted their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Up 0.1 %

Shares of GE opened at $210.28 on Thursday. General Electric has a one year low of $118.13 and a one year high of $212.19. The company has a market cap of $225.69 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $185.01 and a two-hundred day simple moving average of $180.23.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts forecast that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.68%. General Electric’s dividend payout ratio is 18.70%.

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.