Pinnacle Associates Ltd. bought a new position in shares of Qnity Electronics, Inc. (NYSE:Q – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,423 shares of the premier technology solutions leader’s stock, valued at approximately $1,423,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC purchased a new stake in shares of Qnity Electronics in the 4th quarter worth approximately $769,000. Cohen Klingenstein LLC purchased a new stake in shares of Qnity Electronics in the 4th quarter worth approximately $587,000. KBC Group NV purchased a new stake in shares of Qnity Electronics in the 4th quarter worth approximately $12,189,000. Delta Capital Management LLC purchased a new stake in shares of Qnity Electronics in the 4th quarter worth approximately $1,141,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of Qnity Electronics in the 4th quarter worth approximately $2,385,000.
Qnity Electronics Trading Down 4.4%
Shares of Q opened at $156.91 on Friday. The company’s fifty day simple moving average is $128.88. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.54. Qnity Electronics, Inc. has a 12 month low of $70.50 and a 12 month high of $171.52. The stock has a market cap of $32.85 billion and a P/E ratio of 85.74.
Qnity Electronics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, May 29th. Qnity Electronics’s dividend payout ratio (DPR) is currently 17.49%.
Analyst Ratings Changes
Q has been the topic of several recent research reports. Mizuho upped their price target on Qnity Electronics from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group restated a “buy” rating and issued a $165.00 price target on shares of Qnity Electronics in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $180.00 price target on shares of Qnity Electronics in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $180.00 price target on Qnity Electronics in a research note on Wednesday. Finally, KeyCorp upped their price target on Qnity Electronics from $117.00 to $147.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.33.
Read Our Latest Stock Report on Qnity Electronics
About Qnity Electronics
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