Highland Capital Management LLC Has $3.08 Million Holdings in GE Aerospace (NYSE:GE)

Highland Capital Management LLC grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 127.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,379 shares of the company's stock after acquiring an additional 8,611 shares during the period. Highland Capital Management LLC's holdings in GE Aerospace were worth $3,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GE. Norges Bank bought a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $2,375,439,000. GAMMA Investing LLC boosted its stake in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after buying an additional 5,044,632 shares during the period. Janus Henderson Group PLC raised its position in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. raised its position in GE Aerospace by 14.4% during the fourth 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. Finally, Raymond James Financial Inc. acquired a new position in GE Aerospace during the fourth quarter valued at approximately $194,208,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

NYSE GE opened at $254.50 on Friday. The firm's fifty day moving average price is $228.63 and its two-hundred day moving average price is $203.00. The stock has a market cap of $271.39 billion, a PE ratio of 39.58, a PEG ratio of 3.07 and a beta of 1.38. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $260.55. 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 (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. On average, equities analysts expect that GE Aerospace will post 5.4 EPS 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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's dividend payout ratio is 22.40%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GE. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. 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 report on Tuesday, June 3rd. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group boosted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup lowered their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $223.75.

Insider Buying and Selling

In related 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 value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares of the company's stock, 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 document filed with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business's 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 completion of the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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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