GE Aerospace (NYSE:GE) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lessened its stake in GE Aerospace (NYSE:GE) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 132,982 shares of the company’s stock after selling 2,851 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in GE Aerospace were worth $22,618,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GE. Citigroup decreased 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. Bank of America raised their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their target price on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Northcoast Research raised 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. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Price Performance

Shares of NYSE GE opened at $221.55 on Wednesday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $223.55. 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 capitalization of $236.26 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. The business has a 50 day simple moving average of $196.07 and a 200-day simple moving average of $188.48.

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

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were issued 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 yield of 0.65%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio (DPR) is currently 22.40%.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of the business’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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.