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

Kornitzer Capital Management Inc. KS lifted its stake in General Electric (NYSE:GE) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,610 shares of the conglomerate’s stock after buying an additional 88 shares during the period. 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 have also modified their holdings of the company. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter valued at $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric during the 4th quarter valued at $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in General Electric during the 4th quarter valued at $29,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

GE stock opened at $210.28 on Thursday. The business’s 50-day moving average price is $185.01 and its two-hundred day moving average price is $180.23. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $225.69 billion, a PE ratio of 35.11, a P/E/G ratio of 2.59 and a beta of 1.22. General Electric has a 1-year low of $118.13 and a 1-year high of $212.19.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, research analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

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

Analyst Ratings Changes

GE has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research initiated coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday. They issued a “buy” rating and a $250.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.31.

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.