BIP Wealth LLC Buys New Position in GE Aerospace (NYSE:GE)

BIP Wealth LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,437 shares of the company's stock, valued at approximately $240,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. FMR LLC boosted its stake in shares of GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after buying an additional 965,012 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after acquiring an additional 529,457 shares in the last quarter. Norges Bank bought a new stake in GE Aerospace during the fourth quarter worth $2,375,439,000. Finally, Northern Trust Corp grew its stake in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE opened at $207.87 on Monday. The stock has a 50-day moving average price of $194.31 and a 200-day moving average price of $187.04. 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 cap of $221.67 billion, a PE ratio of 34.70, a P/E/G ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $9.06 billion. Sell-side 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. Stockholders of record on Monday, March 10th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace's payout ratio is presently 22.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Redburn Atlantic assumed coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Bank of America boosted their target price on GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $216.92.

Insider Activity at GE Aerospace

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

GE Aerospace 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.

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