Mystic Asset Management Inc. Purchases 2,137 Shares of General Electric (NYSE:GE)

Mystic Asset Management Inc. grew its position in shares of General Electric (NYSE:GE) by 21.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,943 shares of the conglomerate’s stock after purchasing an additional 2,137 shares during the period. Mystic Asset Management Inc.’s holdings in General Electric were worth $1,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of General Electric by 505.8% in the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after buying an additional 1,593,413 shares during the period. Raymond James Financial Inc. purchased a new position in shares of General Electric in the fourth quarter worth about $194,208,000. Franklin Resources Inc. increased its holdings in shares of General Electric by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after buying an additional 973,135 shares during the period. Finally, State Street Corp increased its holdings in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. 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. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Redburn Atlantic began coverage on shares of General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Up 2.6 %

NYSE GE opened at $202.23 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $133.99 and a twelve month high of $212.19. The firm has a market capitalization of $217.06 billion, a PE ratio of 33.76, a P/E/G ratio of 2.59 and a beta of 1.19. The stock’s 50 day moving average is $196.14 and its 200 day moving average is $184.20.

General Electric (NYSE:GE) last announced its 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%. Research analysts forecast that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. General Electric’s payout ratio is presently 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.