GE Aerospace (NYSE:GE) Stake Boosted by Senator Investment Group LP

Senator Investment Group LP lifted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 281,963 shares of the company's stock after buying an additional 21,963 shares during the period. GE Aerospace makes up about 1.4% of Senator Investment Group LP's holdings, making the stock its 23rd biggest holding. Senator Investment Group LP's holdings in GE Aerospace were worth $47,029,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GE. Johnson & White Wealth Management LLC purchased a new stake in shares of GE Aerospace during the 4th quarter worth about $733,000. Chung Wu Investment Group LLC purchased a new stake in GE Aerospace during the fourth quarter worth approximately $795,000. National Bank of Canada FI increased its position 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 worth $177,535,000 after acquiring an additional 29,844 shares in the last quarter. World Investment Advisors LLC increased its position in shares of GE Aerospace by 60.7% in 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 in the last quarter. Finally, National Pension Service raised its holdings in shares of GE Aerospace by 1.7% during the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after buying an additional 37,884 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GE. Wells Fargo & Company raised their price target on shares of GE Aerospace from $203.00 to $212.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Bank of America lifted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Northcoast Research upgraded 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. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target for the company. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $213.40.

GE Aerospace Stock Performance

Shares of NYSE:GE traded up $4.53 during trading hours on Wednesday, hitting $193.71. The stock had a trading volume of 7,234,281 shares, compared to its average volume of 5,423,904. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $214.21. The firm has a market capitalization of $207.90 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.59 and a beta of 1.04. The stock's fifty day simple moving average is $195.11 and its 200 day simple moving average is $186.48. 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 posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $9.06 billion. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

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

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.