Mackenzie Financial Corp Has $55.46 Million Stake in General Electric (GE)
Mackenzie Financial Corp lifted its position in General Electric (NYSE:GE) by 20.5% during the third quarter, Holdings Channel reports. The institutional investor owned 2,293,740 shares of the conglomerate’s stock after buying an additional 389,979 shares during the quarter. Mackenzie Financial Corp’s holdings in General Electric were worth $55,463,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. MPS Loria Financial Planners LLC purchased a new stake in General Electric during the 2nd quarter worth approximately $113,000. Ffcm LLC purchased a new stake in General Electric during the 2nd quarter worth approximately $114,000. Corbenic Partners LLC grew its position in General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in General Electric during the 3rd quarter worth approximately $164,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in General Electric during the 3rd quarter worth approximately $204,000. 55.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric (GE) opened at $14.12 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 12 month low of $13.95 and a 12 month high of $30.54. The company has a market cap of $122,600.00, a P/E ratio of -47.07, a price-to-earnings-growth ratio of 2.68 and a beta of 1.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s payout ratio is -160.00%.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.36% of the company’s stock.
Several analysts have weighed in on the stock. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research report on Wednesday, January 10th. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. DZ Bank reissued a “neutral” rating on shares of General Electric in a research report on Friday, January 26th. Deutsche Bank set a $15.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Wednesday, January 31st. Finally, Goldman Sachs Group set a $19.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Thursday, November 30th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.50.
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General Electric Profile
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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