Baker Avenue Asset Management LP Raises Stock Holdings in GE Aerospace (NYSE:GE)

Baker Avenue Asset Management LP increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,309 shares of the company's stock after buying an additional 1,888 shares during the period. Baker Avenue Asset Management LP's holdings in GE Aerospace were worth $17,398,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC bought a new stake in shares of GE Aerospace during the fourth quarter valued at about $733,000. Chung Wu Investment Group LLC bought a new position in GE Aerospace in the 4th quarter valued at $795,000. National Bank of Canada FI grew its position in shares of GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service grew its position in GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after buying an additional 37,884 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. increased its stake in GE Aerospace by 28.4% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company's stock worth $4,305,000 after acquiring an additional 5,710 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Down 0.0 %

Shares of NYSE GE traded down $0.02 during trading hours on Tuesday, hitting $208.92. The company's stock had a trading volume of 3,092,327 shares, compared to its average volume of 5,363,174. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21. The stock has a market cap of $222.79 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The business has a 50-day simple moving average of $194.46 and a 200-day simple moving average of $187.16.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results 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. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts anticipate 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 issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.69%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company'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 transaction of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. 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, April 23rd. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 9th. Bank of America upped their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Company 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.