Capital Research Global Investors Cuts Stake in GE Aerospace (NYSE:GE)

Capital Research Global Investors reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,970,273 shares of the company's stock after selling 10,653,257 shares during the period. GE Aerospace accounts for approximately 1.4% of Capital Research Global Investors' investment portfolio, making the stock its 14th biggest position. Capital Research Global Investors owned approximately 3.91% of GE Aerospace worth $7,000,240,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of GE Aerospace during the third quarter valued at about $3,400,000. Westside Investment Management Inc. lifted its holdings in shares of GE Aerospace by 6.0% in the third quarter. Westside Investment Management Inc. now owns 1,245 shares of the company's stock valued at $235,000 after purchasing an additional 70 shares in the last quarter. Diamant Asset Management Inc. raised its position in GE Aerospace by 2.7% in the 3rd quarter. Diamant Asset Management Inc. now owns 6,098 shares of the company's stock valued at $1,150,000 after buying an additional 158 shares during the last quarter. Morse Asset Management Inc raised its holdings in shares of GE Aerospace by 30.2% in the third quarter. Morse Asset Management Inc now owns 18,616 shares of the company's stock valued at $3,511,000 after purchasing an additional 4,320 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in shares of GE Aerospace by 1.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company's stock worth $2,308,000 after buying an additional 232 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup cut their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lifted their price objective on GE Aerospace from $203.00 to $212.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday. Finally, Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $213.40.

GE Aerospace Trading Up 2.7 %

NYSE GE traded up $5.20 during trading on Wednesday, hitting $194.38. 4,413,273 shares of the company's stock traded hands, compared to its average volume of 5,468,186. The stock has a fifty day moving average of $195.11 and a two-hundred day moving average of $186.48. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $214.21. The firm has a market cap of $208.63 billion, a P/E ratio of 32.45, a PEG ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $9.06 billion. As a group, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.74%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. GE Aerospace's dividend payout ratio is presently 24.04%.

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.