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% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,943 shares of the conglomerate’s stock after buying 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 filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hager Investment Management Services LLC bought a new stake in General Electric during the fourth quarter worth $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric during the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Electric during the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $30,000. Finally, Picton Mahoney Asset Management boosted its holdings in shares of General Electric by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 2.6 %

Shares of NYSE:GE opened at $202.23 on Tuesday. The firm has a fifty day moving average price of $196.14 and a two-hundred day moving average price of $184.20. The company has a market cap of $217.06 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $133.99 and a one year high of $212.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. Analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.71%. General Electric’s payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Northcoast Research started coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Redburn Atlantic started 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. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $211.31.

About General Electric

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.