Mystic Asset Management Inc. Has $1.99 Million Holdings in General Electric (NYSE:GE)

Mystic Asset Management Inc. grew its holdings in shares of General Electric (NYSE:GE - Free Report) by 21.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,943 shares of the conglomerate's stock after acquiring an additional 2,137 shares during the quarter. Mystic Asset Management Inc.'s holdings in General Electric were worth $1,992,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC boosted its position in General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC lifted its holdings in shares of General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after buying an additional 106,891 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of General Electric by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock valued at $1,128,571,000 after buying an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of General Electric by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate's stock valued at $1,122,966,000 after buying an additional 202,233 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

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General Electric Stock Up 0.0 %

NYSE:GE traded up $0.06 during trading hours on Friday, hitting $203.99. 7,960,224 shares of the company's stock traded hands, compared to its average volume of 5,362,304. The firm has a market cap of $218.94 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $133.99 and a twelve month high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock's fifty day moving average price is $198.63 and its two-hundred day moving average price is $184.87.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, research analysts expect that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Monday, March 10th. General Electric's dividend payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They issued a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a report on Friday, January 24th. Finally, Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

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.