Adage Capital Partners GP L.L.C. Purchases 205,407 Shares of GE Aerospace (NYSE:GE)

Adage Capital Partners GP L.L.C. raised its stake in GE Aerospace (NYSE:GE - Free Report) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 948,298 shares of the company's stock after buying an additional 205,407 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of GE Aerospace worth $158,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in GE Aerospace in the third quarter valued at approximately $3,400,000. Westside Investment Management Inc. grew its holdings in shares of GE Aerospace by 6.0% in the 3rd quarter. Westside Investment Management Inc. now owns 1,245 shares of the company's stock valued at $235,000 after buying an additional 70 shares during the period. Diamant Asset Management Inc. increased its position in shares of 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 in the last quarter. Morse Asset Management Inc raised its stake in GE Aerospace by 30.2% during the 3rd quarter. Morse Asset Management Inc now owns 18,616 shares of the company's stock worth $3,511,000 after buying an additional 4,320 shares during the period. Finally, SkyView Investment Advisors LLC lifted its holdings in GE Aerospace by 1.9% during the third quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company's stock worth $2,308,000 after acquiring an additional 232 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Up 0.6 %

GE Aerospace stock traded up $1.14 during mid-day trading on Friday, reaching $198.55. The company's stock had a trading volume of 4,390,590 shares, compared to its average volume of 5,399,811. The business's 50 day simple moving average is $194.36 and its 200 day simple moving average is $186.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21. The company has a market capitalization of $213.10 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio is currently 22.40%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GE shares. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday. Redburn Atlantic started coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They set 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 company a "buy" rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a research note on Wednesday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.