General Electric (NYSE:GE) Position Reduced by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp reduced its stake in shares of General Electric (NYSE:GE) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,991 shares of the conglomerate’s stock after selling 852 shares during the period. Peapack Gladstone Financial Corp’s holdings in General Electric were worth $8,006,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC increased its holdings in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the 4th quarter valued at approximately $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC bought a new position in General Electric during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management boosted its holdings in General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 11.1 %

GE stock opened at $166.76 on Monday. The firm’s 50-day moving average is $201.56 and its two-hundred day moving average is $187.10. The company has a market capitalization of $178.98 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. General Electric has a 52 week low of $146.78 and a 52 week high of $214.21. 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 posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS 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%. On average, 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 announced 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 represents a $1.44 annualized dividend and a dividend yield of 0.86%. This is an increase from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric’s dividend payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company upped their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.73.

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.