Pinebridge Investments L.P. Decreases Stock Position in GE Aerospace (NYSE:GE)

Pinebridge Investments L.P. lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,619 shares of the company's stock after selling 44,594 shares during the period. Pinebridge Investments L.P.'s holdings in GE Aerospace were worth $10,945,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. New Age Alpha Advisors LLC lifted 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 acquiring an additional 84 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of GE Aerospace during the 4th quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace during the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new position in GE Aerospace in the 4th quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in GE Aerospace in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GE shares. Royal Bank of Canada reissued an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday. Bank of America increased their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. upped their target price on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Stock Up 0.6 %

Shares of GE traded up $1.14 during mid-day trading on Friday, reaching $198.55. The company had a trading volume of 4,390,590 shares, compared to its average volume of 5,399,809. The firm has a 50-day moving average price of $194.36 and a 200 day moving average price of $186.68. 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 has a 52 week low of $150.20 and a 52 week high of $214.21. 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 (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

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

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.