T. Rowe Price Investment Management Inc. Makes New Investment in GE Aerospace (NYSE:GE)

T. Rowe Price Investment Management Inc. bought a new position in GE Aerospace (NYSE:GE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 95,690 shares of the company’s stock, valued at approximately $15,961,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of GE Aerospace in the 4th quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new position in shares of GE Aerospace in the 4th quarter worth approximately $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in shares of GE Aerospace in the 4th quarter worth approximately $29,000. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Up 0.6 %

NYSE GE opened at $198.55 on Monday. 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 firm’s fifty day moving average price is $194.36 and its 200 day moving average price is $186.66. The company has a market capitalization of $213.10 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21.

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

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a dividend of $0.36 per share. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. The ex-dividend date was Monday, March 10th. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Wednesday, April 9th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 target price on the stock. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of GE Aerospace from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace 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.