First Manhattan CO. LLC. Purchases 40,185 Shares of GE Aerospace (NYSE:GE)

First Manhattan CO. LLC. lifted its position in shares of GE Aerospace (NYSE:GE) by 26.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 191,174 shares of the company’s stock after buying an additional 40,185 shares during the quarter. First Manhattan CO. LLC.’s holdings in GE Aerospace were worth $31,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in GE Aerospace by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the company’s stock valued at $249,596,000 after buying an additional 48,543 shares during the period. Fulton Bank N.A. raised its position in GE Aerospace by 217.4% during the fourth quarter. Fulton Bank N.A. now owns 5,888 shares of the company’s stock valued at $982,000 after purchasing an additional 4,033 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in GE Aerospace by 7.1% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 2,459 shares of the company’s stock worth $410,000 after purchasing an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of GE Aerospace by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 551,171 shares of the company’s stock valued at $91,930,000 after purchasing an additional 4,828 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in shares of GE Aerospace by 20.6% in the 4th quarter. ST Germain D J Co. Inc. now owns 9,693 shares of the company’s stock valued at $1,617,000 after purchasing an additional 1,656 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction 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 approximately $2,270,264.20. The trade was a 26.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

NYSE:GE opened at $214.64 on Friday. The firm has a market capitalization of $228.89 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.59 and a beta of 1.31. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $216.80. The company has a fifty day moving average of $194.92 and a 200-day moving average of $187.61. 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 (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS 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 during the quarter, compared to analyst estimates of $9.06 billion. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.67%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. Bank of America upped their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup reduced their price objective 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. Finally, 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 report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and a consensus target price of $216.92.

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.