GE Aerospace (NYSE:GE) Shares Acquired by Ethic Inc.

Ethic Inc. increased its holdings in GE Aerospace (NYSE:GE) by 280.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,537 shares of the company’s stock after purchasing an additional 36,514 shares during the period. Ethic Inc.’s holdings in GE Aerospace were worth $8,262,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of GE Aerospace during the 4th quarter valued at about $2,375,439,000. Invesco Ltd. grew its position in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in GE Aerospace during the 4th quarter worth $194,208,000. FMR LLC lifted its stake in shares of GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company’s stock valued at $1,259,438,000 after purchasing an additional 781,574 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America increased their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.92.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Price Performance

NYSE:GE opened at $214.83 on Friday. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $216.80. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $229.09 billion, a P/E ratio of 35.86, a PEG ratio of 2.59 and a beta of 1.31. The business’s 50-day moving average price is $195.24 and its 200 day moving average price is $187.87.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is presently 22.40%.

GE Aerospace Company Profile

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.