BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Holdings in GE Aerospace (NYSE:GE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in GE Aerospace (NYSE:GE) by 13.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 207,634 shares of the company’s stock after acquiring an additional 24,988 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GE Aerospace were worth $34,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chung Wu Investment Group LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth about $795,000. National Bank of Canada FI raised its position in shares of 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 buying an additional 29,844 shares during the last quarter. National Pension Service lifted its stake in shares of GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after buying an additional 37,884 shares during the period. FourThought Financial Partners LLC purchased a new position in shares of GE Aerospace during the fourth quarter valued at approximately $507,000. Finally, Invesco Ltd. boosted its position in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. The trade was 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 currently owned by insiders.

GE Aerospace Stock Down 0.2%

Shares of GE Aerospace stock opened at $234.93 on Wednesday. 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 company has a market cap of $250.53 billion, a P/E ratio of 39.22, a P/E/G ratio of 2.59 and a beta of 1.31. The stock has a 50-day moving average price of $199.84 and a 200 day moving average price of $190.46. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $236.08.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during 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%. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target 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.