Aristotle Atlantic Partners LLC Invests $4.41 Million in GE Aerospace (NYSE:GE)

Aristotle Atlantic Partners LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,427 shares of the company's stock, valued at approximately $4,408,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of GE Aerospace during the 4th quarter valued at $2,375,439,000. Invesco Ltd. lifted its stake in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the period. Raymond James Financial Inc. acquired a new position in shares of GE Aerospace in the fourth quarter valued at $194,208,000. Franklin Resources Inc. grew its stake in shares of GE Aerospace by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the company's stock valued at $278,247,000 after purchasing an additional 973,135 shares during the period. Finally, FMR LLC lifted its holdings in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 2.1 %

Shares of GE stock opened at $207.87 on Friday. The stock has a market cap of $221.67 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.59 and a beta of 1.04. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $214.21. The stock has a 50 day moving average of $194.31 and a 200 day moving average of $187.12. 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 (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations 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 expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. UBS Group boosted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Bank of America lifted their price objective 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. 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 report on Friday, January 24th. Royal Bank of Canada restated an "outperform" rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Finally, Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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