Migdal Insurance & Financial Holdings Ltd. Purchases Shares of 2,353 GE Aerospace (NYSE:GE)

Migdal Insurance & Financial Holdings Ltd. purchased a new position in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,353 shares of the company's stock, valued at approximately $471,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its position in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the 4th quarter worth $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the fourth quarter valued at about $28,000. Copia Wealth Management boosted its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Finally, First Pacific Financial boosted its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE stock traded up $3.21 on Friday, reaching $263.49. The company's stock had a trading volume of 8,605,410 shares, compared to its average volume of 5,648,390. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $272.80. The company has a market capitalization of $280.98 billion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. The firm has a fifty day moving average of $244.37 and a two-hundred day moving average of $212.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.77.

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

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid 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 (DPR) is currently 20.08%.

Insiders Place Their Bets

In other 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 completion of the transaction, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company'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 transaction, the vice president directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GE. Royal Bank Of Canada boosted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday. Citigroup reissued a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, UBS Group raised their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.