Jacobs Levy Equity Management Inc. Acquires 15,613 Shares of GE Aerospace (NYSE:GE)

Jacobs Levy Equity Management Inc. increased its holdings in GE Aerospace (NYSE:GE) by 23.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,639 shares of the company’s stock after acquiring an additional 15,613 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in GE Aerospace were worth $13,950,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GE. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC bought a new position in GE Aerospace during the fourth quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace during the fourth quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new position in GE Aerospace during the fourth quarter valued at $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in GE Aerospace during the fourth quarter valued at $29,000. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at GE Aerospace

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

GE Aerospace Trading Up 1.8%

NYSE GE opened at $218.73 on Tuesday. The stock’s 50-day simple moving average is $195.56 and its two-hundred day simple moving average is $188.25. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $219.98. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $233.25 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last released its quarterly earnings results 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 return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.66%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. 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 research report on Wednesday, April 9th. Citigroup dropped their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.