Lord Abbett & CO. LLC Increases Stock Holdings in GE Aerospace (NYSE:GE)

Lord Abbett & CO. LLC lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 188.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 683,858 shares of the company's stock after acquiring an additional 446,689 shares during the period. Lord Abbett & CO. LLC owned 0.06% of GE Aerospace worth $114,061,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Johnson & White Wealth Management LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $733,000. Chung Wu Investment Group LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $795,000. National Bank of Canada FI boosted its holdings in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after acquiring an additional 29,844 shares during the period. World Investment Advisors LLC grew its position in shares of GE Aerospace by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the company's stock worth $2,576,000 after acquiring an additional 5,162 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after acquiring an additional 37,884 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $1.14 during 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 5,397,810. The business has a 50 day moving average price of $194.36 and a 200-day moving average price of $186.67. The company has a market capitalization of $213.10 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. 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 $214.21.

GE Aerospace (NYSE:GE - Get Free Report) last issued 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. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a dividend of $0.36 per share. 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 0.73%. The ex-dividend date was Monday, March 10th. GE Aerospace's dividend payout ratio is presently 22.40%.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Citigroup decreased their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group boosted their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $216.92.

About GE Aerospace

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.