GE Aerospace (NYSE:GE) Shares Bought by First Manhattan CO. LLC.

First Manhattan CO. LLC. grew its stake in shares of GE Aerospace (NYSE:GE) by 26.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 191,174 shares of the company’s stock after buying an additional 40,185 shares during the period. First Manhattan CO. LLC.’s holdings in GE Aerospace were worth $31,886,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. New Age Alpha Advisors LLC raised its stake in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after buying an additional 84 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in GE Aerospace in the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new position in GE Aerospace during the fourth quarter worth $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace during the 4th quarter worth $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated 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 directly owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Stock Up 2.2 %

GE stock opened at $214.64 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The stock has a market capitalization of $228.89 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.59 and a beta of 1.31. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $216.80. The business has a 50-day moving average of $194.92 and a 200-day moving average of $187.61.

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

GE Aerospace Increases Dividend

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

Analysts Set New Price Targets

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

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.