Alyeska Investment Group L.P. Raises Position in GE Aerospace (NYSE:GE)

Alyeska Investment Group L.P. increased its position in shares of GE Aerospace (NYSE:GE) by 2,642.3% in the 4th quarter, HoldingsChannel reports. The firm owned 190,673 shares of the company’s stock after purchasing an additional 183,720 shares during the period. Alyeska Investment Group L.P.’s holdings in GE Aerospace were worth $31,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson & White Wealth Management LLC purchased a new position in shares of GE Aerospace during the 4th quarter worth approximately $733,000. Chung Wu Investment Group LLC purchased a new position in GE Aerospace in the fourth quarter worth $795,000. National Bank of Canada FI lifted its holdings in GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after acquiring an additional 29,844 shares during the period. National Pension Service boosted its position in shares of GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after purchasing an additional 37,884 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its stake in shares of GE Aerospace by 28.4% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company’s stock worth $4,305,000 after purchasing an additional 5,710 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Redburn Atlantic started coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Wednesday, April 9th. Finally, Bank of America upped 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 analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $216.92.

Insider Activity at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on Tuesday, April 29th. The shares were 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 owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 2.1 %

GE Aerospace stock opened at $207.87 on Friday. The stock has a market cap of $221.67 billion, a PE ratio of 34.70, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $194.31 and a 200 day moving average price of $187.08. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Equities research analysts predict 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. Stockholders of record on Monday, March 10th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is currently 22.40%.

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.