Diligent Investors LLC Grows Holdings in GE Aerospace (NYSE:GE)

Diligent Investors LLC lifted its position in shares of GE Aerospace (NYSE:GE) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,612 shares of the company’s stock after buying an additional 1,083 shares during the quarter. Diligent Investors LLC’s holdings in GE Aerospace were worth $769,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their target price 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. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Stock Down 0.0 %

Shares of NYSE:GE opened at $208.92 on Wednesday. The firm has a market cap of $222.79 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. The company has a fifty day simple moving average of $194.61 and a 200 day simple moving average of $187.31. 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 12-month low of $150.20 and a 12-month high of $214.21.

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

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio (DPR) is currently 22.40%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 completion of the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, 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. Insiders own 0.21% of the company’s stock.

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.