Peapack Gladstone Financial Corp Has $8.01 Million Stock Position in General Electric (NYSE:GE)

Peapack Gladstone Financial Corp cut its holdings in shares of General Electric (NYSE:GE) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 47,991 shares of the conglomerate’s stock after selling 852 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in General Electric were worth $8,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC lifted its holdings in General Electric by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock worth $39,000 after buying an additional 49 shares in the last quarter. Ballast Advisors LLC raised its position in shares of General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock worth $349,000 after acquiring an additional 51 shares during the last quarter. Blue Barn Wealth LLC lifted its stake in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after acquiring an additional 54 shares during the period. Game Plan Financial Advisors LLC boosted its holdings in General Electric by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after acquiring an additional 55 shares during the last quarter. Finally, Red Door Wealth Management LLC increased its position in General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. UBS Group upped their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.73.

General Electric Price Performance

NYSE GE opened at $166.76 on Monday. 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 has a market cap of $178.98 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.59 and a beta of 1.04. The business has a 50 day simple moving average of $201.56 and a 200 day simple moving average of $187.10. General Electric has a 52-week low of $146.78 and a 52-week high of $214.21.

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

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 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.