GE Aerospace (NYSE:GE) Stock Holdings Lessened by Gotham Asset Management LLC
Gotham Asset Management LLC reduced its stake in GE Aerospace (NYSE:GE) by 20.5% in Q4, now holding 133,555 shares after selling 34,525 shares. Other investors, including Focus Partners Wealth and Ethic Inc., increased their holdings. GE Aerospace's stock opened at $214.83, with a market cap of $229.09 billion. The company reported $1.49 EPS, exceeding estimates, and announced a dividend increase to $0.36. Analysts are optimistic, with several raising target prices and issuing buy ratings.
Gotham Asset Management LLC lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 20.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 133,555 shares of the company's stock after selling 34,525 shares during the period. Gotham Asset Management LLC's holdings in GE Aerospace were worth $22,276,000 at the end of the most recent reporting period.
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Several other large investors have also modified their holdings of the stock. Focus Partners Wealth boosted its position in shares of GE Aerospace by 37.4% in the 4th quarter. Focus Partners Wealth now owns 126,696 shares of the company's stock valued at $22,182,000 after purchasing an additional 34,490 shares during the period. Ethic Inc. lifted its stake in GE Aerospace by 280.4% during the fourth quarter. Ethic Inc. now owns 49,537 shares of the company's stock valued at $8,262,000 after buying an additional 36,514 shares in the last quarter. Fiduciary Trust Co boosted its holdings in shares of GE Aerospace by 3.0% in the fourth quarter. Fiduciary Trust Co now owns 21,753 shares of the company's stock worth $3,628,000 after buying an additional 637 shares during the period. First Manhattan CO. LLC. increased its position in shares of GE Aerospace by 26.6% in the fourth quarter. First Manhattan CO. LLC. now owns 191,174 shares of the company's stock worth $31,886,000 after acquiring an additional 40,185 shares in the last quarter. Finally, Circle Wealth Management LLC raised its holdings in shares of GE Aerospace by 13.0% during the fourth quarter. Circle Wealth Management LLC now owns 1,351 shares of the company's stock valued at $225,000 after acquiring an additional 155 shares during the period. 74.77% of the stock is owned by institutional investors.
GE Aerospace Stock Performance
GE stock opened at $214.83 on Friday. The company has a market capitalization of $229.09 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 2.59 and a beta of 1.31. The firm has a 50 day moving average of $195.24 and a two-hundred day moving average of $187.87. The company has a quick ratio of 0.81, a current ratio of 1.09 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 $216.80.
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GE Aerospace (NYSE:GE - Get Free Report) 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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.
GE Aerospace Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were issued a $0.36 dividend. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 10th. GE Aerospace's payout ratio is 22.40%.
Wall Street Analyst Weigh In
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A number of equities analysts recently commented on GE shares. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. UBS Group raised 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. Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.92.
Read Our Latest Analysis on GE Aerospace
Insider Buying and Selling
In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were 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 in the company, valued at $1,766,899.35. This trade represents a 15.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.
About GE Aerospace
(Free Report)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.
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