OMERS ADMINISTRATION Corp Purchases 5,435 Shares of GE Aerospace (NYSE:GE)

OMERS ADMINISTRATION Corp boosted its position in GE Aerospace (NYSE:GE) by 12.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,026 shares of the company’s stock after purchasing an additional 5,435 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in GE Aerospace were worth $8,344,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Obermeyer Wealth Partners bought a new stake in shares of GE Aerospace during the 4th quarter valued at $291,000. Minot DeBlois Advisors LLC bought a new stake in shares of GE Aerospace during the 4th quarter valued at $47,000. Morse Asset Management Inc lifted its position in shares of GE Aerospace by 13.6% during the 4th quarter. Morse Asset Management Inc now owns 21,141 shares of the company’s stock valued at $3,526,000 after acquiring an additional 2,525 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of GE Aerospace by 2.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,497 shares of the company’s stock worth $18,263,000 after buying an additional 2,843 shares in the last quarter. Finally, MJP Associates Inc. ADV raised its holdings in shares of GE Aerospace by 34.6% during the 4th quarter. MJP Associates Inc. ADV now owns 4,869 shares of the company’s stock worth $812,000 after buying an additional 1,251 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm’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 completion of the sale, the vice president now owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents 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.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a report on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Bank of America boosted their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Trading Up 1.2%

Shares of GE stock opened at $221.55 on Wednesday. The stock has a market cap of $236.26 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.59 and a beta of 1.31. The stock has a 50-day moving average of $196.07 and a 200-day moving average of $188.48. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $223.55.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a $0.36 dividend. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. GE Aerospace’s dividend payout ratio is presently 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.