Northern Trust Corp Purchases 553,104 Shares of GE Aerospace (NYSE:GE)

Northern Trust Corp boosted its position in GE Aerospace (NYSE:GE - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,046,867 shares of the company's stock after acquiring an additional 553,104 shares during the period. Northern Trust Corp owned 0.94% of GE Aerospace worth $1,675,717,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GE. New Age Alpha Advisors LLC lifted its holdings in GE Aerospace by 133.3% in 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 purchased a new stake in GE Aerospace in the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace in the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new stake in GE Aerospace in the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in GE Aerospace in the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 0.6 %

NYSE:GE opened at $198.55 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.81 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. The company has a market cap of $213.10 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a 50 day simple moving average of $194.36 and a two-hundred day simple moving average of $186.66.

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

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a $0.36 dividend. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. GE Aerospace's dividend payout ratio is 22.40%.

Analyst Ratings Changes

Several research firms have recently issued reports on GE. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Citigroup lowered their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Bank of America lifted their target price 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. Finally, UBS Group raised their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.