GE Aerospace (NYSE:GE) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,539 shares of the company's stock after buying an additional 4,621 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in GE Aerospace were worth $27,528,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GE. Sendero Wealth Management LLC boosted its holdings in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after acquiring an additional 12,613 shares during the period. Chung Wu Investment Group LLC acquired a new position in shares of GE Aerospace during the fourth quarter worth $795,000. National Bank of Canada FI boosted its stake in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after purchasing an additional 29,844 shares during the period. Global Assets Advisory LLC boosted its stake in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. 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 purchasing an additional 1,204,910 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president directly 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 sale 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 firm'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 directly owned 11,540 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

A number of equities analysts have commented on GE shares. 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. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $223.75.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $2.03 during trading on Friday, reaching $246.78. The stock had a trading volume of 3,089,499 shares, compared to its average volume of 5,509,984. 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 stock has a market cap of $263.16 billion, a PE ratio of 38.38, a P/E/G ratio of 2.98 and a beta of 1.37. GE Aerospace has a one year low of $150.20 and a one year high of $260.55. The firm's 50 day moving average price is $234.38 and its two-hundred day moving average price is $205.62.

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

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

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.