Bessemer Group Inc. Buys 1,979 Shares of GE Aerospace (NYSE:GE)

Bessemer Group Inc. increased its stake in GE Aerospace (NYSE:GE - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,693 shares of the company's stock after purchasing an additional 1,979 shares during the quarter. Bessemer Group Inc.'s holdings in GE Aerospace were worth $6,144,000 at the end of the most recent quarter.

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

GE Aerospace Stock Performance

NYSE:GE traded up $3.50 during mid-day trading on Friday, hitting $254.50. 26,986,431 shares of the company traded hands, compared to its average volume of 5,482,423. The stock's fifty day moving average price is $228.63 and its 200-day moving average price is $203.00. GE Aerospace has a one year low of $150.20 and a one year high of $260.55. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The firm has a market cap of $271.39 billion, a price-to-earnings ratio of 39.58, a price-to-earnings-growth ratio of 3.07 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly 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. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's payout ratio is 22.40%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. 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 report on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. 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 report on Thursday, April 24th. Finally, Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $223.75.

Insider Activity

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

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.