Allspring Global Investments Holdings LLC Boosts Stock Position in GE Aerospace (NYSE:GE)

Allspring Global Investments Holdings LLC grew its holdings in GE Aerospace (NYSE:GE - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 970,358 shares of the company's stock after purchasing an additional 28,768 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of GE Aerospace worth $197,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several research firms have commented on GE. Citigroup decreased 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. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Price Performance

GE Aerospace stock traded up $3.50 during midday trading on Friday, hitting $254.50. 26,986,431 shares of the company's stock were exchanged, compared to its average volume of 5,495,058. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $260.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market cap of $271.39 billion, a P/E ratio of 39.58, a PEG ratio of 3.03 and a beta of 1.38. The stock has a 50-day moving average price of $228.63 and a two-hundred day moving average price of $202.77.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.57%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Insider Buying and Selling

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

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.