Yousif Capital Management LLC trimmed its position in GE Aerospace (NYSE:GE – Free Report) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,652 shares of the company’s stock after selling 6,318 shares during the period. Yousif Capital Management LLC’s holdings in GE Aerospace were worth $39,246,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in GE Aerospace by 0.7% in the third quarter. State Street Corp now owns 44,577,642 shares of the company’s stock worth $13,425,562,000 after purchasing an additional 308,730 shares during the period. Capital World Investors lifted its position in GE Aerospace by 16.2% in the third quarter. Capital World Investors now owns 21,442,810 shares of the company’s stock worth $6,449,731,000 after purchasing an additional 2,995,054 shares during the period. Northern Trust Corp lifted its position in GE Aerospace by 1.8% in the third quarter. Northern Trust Corp now owns 10,296,945 shares of the company’s stock worth $3,097,527,000 after purchasing an additional 181,316 shares during the period. Jennison Associates LLC lifted its position in GE Aerospace by 21.5% in the third quarter. Jennison Associates LLC now owns 8,430,878 shares of the company’s stock worth $2,536,177,000 after purchasing an additional 1,494,541 shares during the period. Finally, Legal & General Group Plc lifted its position in GE Aerospace by 8.1% in the third quarter. Legal & General Group Plc now owns 6,465,804 shares of the company’s stock worth $1,945,043,000 after purchasing an additional 484,467 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.
GE Aerospace Stock Down 0.2%
GE stock opened at $288.22 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.74. GE Aerospace has a 52-week low of $165.70 and a 52-week high of $348.48. The company has a 50-day moving average of $311.13 and a two-hundred day moving average of $306.56. The stock has a market capitalization of $302.29 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43.
GE Aerospace Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.7%. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, March 9th. GE Aerospace’s dividend payout ratio is currently 23.10%.
Insider Buying and Selling at GE Aerospace
In other GE Aerospace news, VP Robert M. Giglietti sold 3,035 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $305.51, for a total transaction of $927,222.85. Following the completion of the sale, the vice president directly owned 10,583 shares in the company, valued at $3,233,212.33. This represents a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Amy L. Gowder sold 4,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $305.73, for a total transaction of $1,222,920.00. Following the sale, the senior vice president owned 16,535 shares of the company’s stock, valued at $5,055,245.55. This trade represents a 19.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,398 shares of company stock worth $11,455,491 over the last ninety days. Company insiders own 0.19% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on GE shares. Wells Fargo & Company started coverage on GE Aerospace in a research report on Wednesday, April 1st. They set an “overweight” rating and a $325.00 price objective for the company. Wolfe Research increased their price objective on GE Aerospace from $340.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. Citigroup cut their price objective on GE Aerospace from $380.00 to $353.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. JPMorgan Chase & Co. increased their price objective on GE Aerospace from $325.00 to $335.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $343.89.
View Our Latest Stock Analysis on GE Aerospace
GE Aerospace 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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