Capital World Investors Reduces Holdings in GE Aerospace (NYSE:GE)

Capital World Investors trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,209,154 shares of the company's stock after selling 2,055,898 shares during the quarter. Capital World Investors owned 1.88% of GE Aerospace worth $3,370,786,000 at the end of the most recent reporting period.

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

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $5.20 on Wednesday, reaching $194.38. 4,413,273 shares of the company traded hands, compared to its average volume of 5,468,186. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a 50 day moving average of $195.11 and a 200 day moving average of $186.48. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21. The firm has a market capitalization of $208.63 billion, a PE ratio of 32.45, a PEG ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during 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%. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank of Canada restated an "outperform" rating and set a $220.00 price target on shares of GE Aerospace in a report on Wednesday. Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. Wells Fargo & Company increased their price objective on GE Aerospace from $203.00 to $212.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Finally, Bank of America upped their target price on GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $213.40.

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.