Peapack Gladstone Financial Corp Has $9.21 Million Stake in General Electric (NYSE:GE)

Peapack Gladstone Financial Corp lifted its position in shares of General Electric (NYSE:GE) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,843 shares of the conglomerate’s stock after buying an additional 278 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in General Electric were worth $9,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Newport Trust Company LLC acquired a new stake in General Electric during the second quarter worth approximately $2,613,332,000. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $580,200,000. International Assets Investment Management LLC increased its stake in shares of General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after acquiring an additional 1,605,434 shares during the period. Institutional investors own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $165.98 on Friday. General Electric has a one year low of $95.92 and a one year high of $194.80. The company has a market cap of $179.64 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.66 and a beta of 1.17. The firm has a 50-day moving average of $180.30 and a 200-day moving average of $172.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on GE. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $201.93.

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.