BlueSpruce Investments LP Acquires Shares of 4,460 GE Aerospace (NYSE:GE)

BlueSpruce Investments LP purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,460 shares of the company's stock, valued at approximately $744,000. GE Aerospace accounts for approximately 0.0% of BlueSpruce Investments LP's investment portfolio, making the stock its 20th largest position.

Other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its holdings in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC bought a new position in shares of GE Aerospace in the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in GE Aerospace during the 4th quarter valued at approximately $29,000. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GE. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Citigroup decreased 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, 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 report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Trading Up 0.6 %

Shares of GE traded up $1.30 during trading hours on Wednesday, reaching $209.90. 3,873,965 shares of the company traded hands, compared to its average volume of 5,360,052. The stock's fifty day moving average price is $194.61 and its 200 day moving average price is $187.31. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market cap of $223.83 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $214.21.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The company 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%. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.69%. 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 payout ratio is 22.40%.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business'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 sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the 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 trade 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 corporate insiders.

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.