Covalis Capital LLP Invests $913,000 in GE Aerospace (NYSE:GE)

Covalis Capital LLP acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,471 shares of the company's stock, valued at approximately $913,000.

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

GE Aerospace Stock Up 2.7 %

Shares of GE traded up $5.20 during midday trading on Wednesday, reaching $194.38. 4,413,273 shares of the company were exchanged, compared to its average volume of 5,468,186. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $214.21. 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 company has a market cap of $208.63 billion, a price-to-earnings ratio of 32.45, a P/E/G ratio of 2.59 and a beta of 1.04. The stock has a 50-day moving average price of $195.11 and a 200-day moving average price of $186.48.

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 company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Monday, March 10th. GE Aerospace's dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GE shares. UBS Group increased their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Finally, 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. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $213.40.

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.