Millstone Evans Group LLC Takes Position in General Electric (NYSE:GE)

Millstone Evans Group LLC acquired a new position in shares of General Electric (NYSE:GE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,202 shares of the conglomerate’s stock, valued at approximately $868,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares during the period. Jennison Associates LLC raised its position in General Electric by 1.4% during the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after purchasing an additional 106,891 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of General Electric by 1.7% in the 4th 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake 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.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup raised their price target 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. UBS Group lifted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America increased their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Performance

GE opened at $203.99 on Friday. The company has a market cap of $218.94 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.59 and a beta of 1.19. The company’s fifty day moving average price is $198.63 and its two-hundred day moving average price is $184.87. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced 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 net margin of 14.31% and a return on equity of 22.19%. On average, analysts expect that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 dividend on an annualized basis 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%.

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.