T. Rowe Price Investment Management Inc. Purchases Shares of 95,690 GE Aerospace (NYSE:GE)

T. Rowe Price Investment Management Inc. acquired a new position in GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 95,690 shares of the company's stock, valued at approximately $15,961,000.

Other hedge funds have also recently made changes to their positions in the company. Johnson & White Wealth Management LLC bought a new position in shares of GE Aerospace in the fourth quarter worth about $733,000. Chung Wu Investment Group LLC bought a new position in GE Aerospace during the fourth quarter valued at approximately $795,000. National Bank of Canada FI boosted its stake in GE Aerospace by 2.9% during 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 buying an additional 29,844 shares during the last quarter. World Investment Advisors LLC boosted its stake in GE Aerospace by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the company's stock valued at $2,576,000 after buying an additional 5,162 shares during the last quarter. Finally, National Pension Service boosted its stake in GE Aerospace by 1.7% during the fourth 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 last quarter. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. increased their price target on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Trading Up 0.6 %

Shares of NYSE:GE opened at $198.55 on Monday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market capitalization of $213.10 billion, a P/E ratio of 33.15, a P/E/G ratio of 2.59 and a beta of 1.04. The business's 50-day moving average is $194.36 and its 200 day moving average is $186.66.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. On average, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

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

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