Mackenzie Financial Corp Raises Position in GE Aerospace (NYSE:GE)

Mackenzie Financial Corp increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 670,149 shares of the company's stock after buying an additional 86,807 shares during the period. Mackenzie Financial Corp owned about 0.06% of GE Aerospace worth $111,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC boosted its holdings in 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 buying an additional 84 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in GE Aerospace during the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter worth about $28,000. CBIZ Investment Advisory Services LLC acquired a new position in GE Aerospace during the fourth quarter worth about $29,000. Finally, Picton Mahoney Asset Management raised its position in GE Aerospace by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company's stock worth $30,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 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 SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company'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 transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade 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 company insiders.

GE Aerospace Stock Performance

NYSE:GE opened at $232.86 on Friday. The firm has a 50 day simple moving average of $201.76 and a 200-day simple moving average of $191.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market cap of $248.32 billion, a PE ratio of 38.87, a P/E/G ratio of 2.59 and a beta of 1.31. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $237.30.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts expect that GE Aerospace will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GE shares. Redburn Atlantic started coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Citigroup cut their target price 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. UBS Group lifted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Bank of America lifted their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $216.92.

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.

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