OMERS ADMINISTRATION Corp Purchases 5,435 Shares of GE Aerospace (NYSE:GE)

OMERS ADMINISTRATION Corp boosted its position in GE Aerospace (NYSE:GE) by 12.2% during the 4th quarter, Holdings Channel reports. The fund owned 50,026 shares of the company’s stock after buying an additional 5,435 shares during the period. OMERS ADMINISTRATION Corp’s holdings in GE Aerospace were worth $8,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in GE Aerospace by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. FMR LLC boosted its holdings in 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. Geode Capital Management LLC boosted its holdings in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after acquiring an additional 529,457 shares in the last quarter. Norges Bank bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $2,375,439,000. Finally, Northern Trust Corp lifted its holdings in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade 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 owned by company insiders.

GE Aerospace Stock Performance

NYSE:GE opened at $221.55 on Wednesday. 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 business has a fifty day simple moving average of $196.07 and a two-hundred day simple moving average of $188.48. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $223.55. The company has a market capitalization of $236.26 billion, a P/E ratio of 36.99, a P/E/G ratio of 2.59 and a beta of 1.31.

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

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a $0.36 dividend. The ex-dividend date was Monday, March 10th. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. GE Aerospace’s payout ratio is 22.40%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Northcoast Research upgraded GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. raised their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Finally, Bank of America raised their target price on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.92.

About GE Aerospace

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.