Lombard Odier Asset Management Switzerland SA purchased a new stake in GE Aerospace (NYSE:GE – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,058 shares of the company’s stock, valued at approximately $868,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. High Falls Advisors Inc raised its holdings in GE Aerospace by 3.0% in the 4th quarter. High Falls Advisors Inc now owns 1,069 shares of the company’s stock valued at $329,000 after acquiring an additional 31 shares in the last quarter. Montz Harcus Wealth Management LLC grew its holdings in shares of GE Aerospace by 3.6% during the 4th quarter. Montz Harcus Wealth Management LLC now owns 947 shares of the company’s stock worth $292,000 after purchasing an additional 33 shares in the last quarter. Darwin Wealth Management LLC increased its position in shares of GE Aerospace by 2.0% in the fourth quarter. Darwin Wealth Management LLC now owns 1,699 shares of the company’s stock worth $523,000 after purchasing an additional 33 shares during the period. LRI Investments LLC increased its position in shares of GE Aerospace by 1.4% in the fourth quarter. LRI Investments LLC now owns 2,390 shares of the company’s stock worth $736,000 after purchasing an additional 33 shares during the period. Finally, Saxon Interests Inc. increased its position in shares of GE Aerospace by 2.5% in the fourth quarter. Saxon Interests Inc. now owns 1,351 shares of the company’s stock worth $416,000 after purchasing an additional 33 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.
GE Aerospace Price Performance
Shares of GE stock opened at $361.79 on Tuesday. The business has a fifty day simple moving average of $343.02 and a 200 day simple moving average of $319.88. The company has a market cap of $375.37 billion, a P/E ratio of 42.61, a P/E/G ratio of 2.70 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. GE Aerospace has a twelve month low of $261.71 and a twelve month high of $382.97.
GE Aerospace Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Monday, July 6th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.88 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 22.14%.
Analyst Ratings Changes
Several research firms recently weighed in on GE. The Goldman Sachs Group reaffirmed a “buy” rating and set a $410.00 price objective on shares of GE Aerospace in a research report on Monday, July 20th. TD Cowen reissued a “buy” rating and issued a $380.00 target price (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. Daiwa Securities Group assumed coverage on shares of GE Aerospace in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $301.00 target price for the company. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, UBS Group increased their price target on shares of GE Aerospace from $426.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $390.59.
GE Aerospace Company Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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