Zions Bancorporation N.A. Decreases Holdings in General Electric (NYSE:GE)

Zions Bancorporation N.A. cut its stake in General Electric (NYSE:GE) by 6.4% during the 4th quarter, HoldingsChannel reports. The firm owned 2,705 shares of the conglomerate’s stock after selling 186 shares during the quarter. Zions Bancorporation N.A.’s holdings in General Electric were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in General Electric during the 3rd quarter worth approximately $618,000. Truvestments Capital LLC acquired a new position in shares of General Electric during the third quarter worth $35,000. D.A. Davidson & CO. boosted its stake in shares of General Electric by 2.6% in the third quarter. D.A. Davidson & CO. now owns 35,280 shares of the conglomerate’s stock valued at $6,653,000 after purchasing an additional 893 shares during the period. Avestar Capital LLC grew its holdings in General Electric by 11.1% during the 3rd quarter. Avestar Capital LLC now owns 5,273 shares of the conglomerate’s stock valued at $996,000 after purchasing an additional 527 shares in the last quarter. Finally, Townsquare Capital LLC lifted its holdings in General Electric by 84.3% in the 3rd quarter. Townsquare Capital LLC now owns 55,601 shares of the conglomerate’s stock worth $10,485,000 after buying an additional 25,433 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Redburn Atlantic initiated coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Down 2.3 %

Shares of General Electric stock opened at $207.33 on Thursday. The stock has a market capitalization of $222.53 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $133.99 and a twelve month high of $214.21. 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 business’s 50 day simple moving average is $200.66 and its 200-day simple moving average is $185.98.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Equities research analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is 24.04%.

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.