Jennison Associates LLC Has $1.36 Billion Stock Position in GE Aerospace (NYSE:GE)

Jennison Associates LLC trimmed its position in GE Aerospace (NYSE:GE - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,803,910 shares of the company's stock after selling 1,074,740 shares during the quarter. GE Aerospace makes up 1.0% of Jennison Associates LLC's investment portfolio, making the stock its 26th largest position. Jennison Associates LLC owned approximately 0.64% of GE Aerospace worth $1,361,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rainey & Randall Wealth Advisors Inc. acquired a new stake in GE Aerospace during the 1st quarter worth $203,000. Sendero Wealth Management LLC grew its position in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the last quarter. National Bank of Canada FI grew its position in GE Aerospace by 2.9% during 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 during the last quarter. Finally, Global Assets Advisory LLC grew its position in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Trading Up 1.2%

Shares of GE Aerospace stock traded up $3.21 during trading hours on Friday, hitting $263.49. The company's stock had a trading volume of 8,605,410 shares, compared to its average volume of 5,647,636. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.80. The business has a fifty day moving average of $244.37 and a 200 day moving average of $211.75. The company has a market capitalization of $280.98 billion, a PE ratio of 36.75, a P/E/G ratio of 3.05 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Insiders Place Their Bets

In other GE Aerospace 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 transaction of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GE. UBS Group lifted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company lifted their target price 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. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.33.

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.