GE Aerospace (NYSE:GE) Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 13.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,638 shares of the company's stock after purchasing an additional 1,028 shares during the period. Kornitzer Capital Management Inc. KS's holdings in GE Aerospace were worth $1,729,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Copia Wealth Management increased its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. New Age Alpha Advisors LLC increased its position in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the period. O Brien Wealth Partners LLC purchased a new position in shares of GE Aerospace during the first quarter worth approximately $33,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Finally, First Pacific Financial boosted its stake in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 transaction of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Stock Performance

GE stock traded up $3.21 during trading on Friday, reaching $263.49. The company had a trading volume of 8,599,707 shares, compared to its average volume of 6,308,703. The company has a market cap of $280.98 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 3.19 and a beta of 1.37. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.80. 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 firm has a 50-day simple moving average of $243.40 and a 200-day simple moving average of $211.08.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio is presently 22.40%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GE shares. Citigroup reiterated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group increased their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $240.33.

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.