Cutler Investment Counsel LLC purchased a new position in shares of Qnity Electronics, Inc. (NYSE:Q – Free Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 48,546 shares of the premier technology solutions leader’s stock, valued at approximately $3,964,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of Qnity Electronics in the 4th quarter valued at $2,226,626,000. Geode Capital Management LLC acquired a new position in Qnity Electronics during the fourth quarter worth $435,786,000. Franklin Resources Inc. acquired a new position in Qnity Electronics during the fourth quarter worth $287,519,000. Nuveen LLC bought a new position in Qnity Electronics during the fourth quarter valued at about $194,980,000. Finally, Norges Bank bought a new position in Qnity Electronics during the fourth quarter valued at about $187,700,000.
Qnity Electronics Stock Up 7.0%
Q stock opened at $149.53 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.12 and a quick ratio of 1.57. Qnity Electronics, Inc. has a 52-week low of $70.50 and a 52-week high of $171.52. The company has a 50-day moving average of $143.76 and a two-hundred day moving average of $114.24. The stock has a market capitalization of $31.30 billion and a price-to-earnings ratio of 51.39.
Qnity Electronics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, May 29th. Qnity Electronics’s payout ratio is currently 11.00%.
Analyst Upgrades and Downgrades
Q has been the subject of several recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $165.00 price target on shares of Qnity Electronics in a research note on Wednesday, May 13th. BMO Capital Markets reissued an “outperform” rating and issued a $180.00 price objective on shares of Qnity Electronics in a research note on Wednesday, May 13th. KeyCorp boosted their target price on Qnity Electronics from $117.00 to $147.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft set a $180.00 target price on Qnity Electronics in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qnity Electronics in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Qnity Electronics presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.33.
View Our Latest Stock Analysis on Qnity Electronics
Qnity Electronics Company Profile
Qnity Electronics Inc is a premier technology solution provider across the semiconductor value chain. Qnity Electronics Inc is based in WILMINGTON, Del.
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