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

Zions Bancorporation N.A. decreased its holdings in General Electric (NYSE:GE) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. TIAA Trust National Association boosted its stake in shares of General Electric by 6.8% during the 4th quarter. TIAA Trust National Association now owns 111,537 shares of the conglomerate’s stock worth $18,604,000 after acquiring an additional 7,120 shares in the last quarter. Princeton Capital Management LLC boosted its position in General Electric by 1.8% during the fourth quarter. Princeton Capital Management LLC now owns 14,567 shares of the conglomerate’s stock worth $2,430,000 after purchasing an additional 252 shares in the last quarter. Modern Wealth Management LLC grew its holdings in General Electric by 25.6% in the fourth quarter. Modern Wealth Management LLC now owns 7,456 shares of the conglomerate’s stock valued at $1,244,000 after purchasing an additional 1,522 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of General Electric by 138.6% in the fourth quarter. EntryPoint Capital LLC now owns 2,691 shares of the conglomerate’s stock valued at $449,000 after buying an additional 1,563 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in shares of General Electric during the 4th quarter worth $372,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Bank of America raised their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Two investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

GE opened at $207.33 on Thursday. General Electric has a 1 year low of $133.99 and a 1 year high of $214.21. The company’s 50 day simple moving average is $200.66 and its 200 day simple moving average is $185.98. The stock has a market capitalization of $222.53 billion, a PE ratio of 34.61, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

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

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio (DPR) is 24.04%.

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.