BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stock Holdings in GE Aerospace (NYSE:GE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,634 shares of the company's stock after buying an additional 24,988 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in GE Aerospace were worth $34,631,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace in the fourth quarter worth about $795,000. National Bank of Canada FI lifted its holdings in GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service boosted its stake in GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after purchasing an additional 37,884 shares during the period. FourThought Financial Partners LLC purchased a new stake in GE Aerospace during the 4th quarter valued at approximately $507,000. Finally, Invesco Ltd. grew its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 sale, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Stock Down 0.2%

NYSE GE opened at $234.93 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $236.08. The business's fifty day simple moving average is $199.84 and its 200-day simple moving average is $190.46. The firm has a market cap of $250.53 billion, a PE ratio of 39.22, a P/E/G ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results 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. 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 during the quarter, compared to analysts' expectations of $9.06 billion. As a group, equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

Analyst Ratings Changes

GE has been the subject of several research analyst reports. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Bank of America boosted their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus price target of $216.92.

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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