Calamos Wealth Management LLC Raises Stake in GE Aerospace (NYSE:GE)

Calamos Wealth Management LLC increased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,687 shares of the company's stock after purchasing an additional 2,598 shares during the quarter. Calamos Wealth Management LLC's holdings in GE Aerospace were worth $3,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after acquiring an additional 410,172 shares in the last quarter. FMR LLC grew its stake in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC grew its stake 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 valued at $3,846,587,000 after acquiring an additional 529,457 shares in the last quarter. Norges Bank purchased a new position in GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. Finally, Northern Trust Corp grew its stake in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $2.03 on Friday, hitting $246.78. 3,089,499 shares of the company traded hands, compared to its average volume of 5,509,984. The stock has a market capitalization of $263.16 billion, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $260.55. The business has a 50-day simple moving average of $234.38 and a 200 day simple moving average of $205.62.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared 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 0.58%. GE Aerospace's dividend payout ratio is presently 22.40%.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the business'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 transaction, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% 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.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Citigroup cut their price target 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 target on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. 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 note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $223.75.

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.