Baird Financial Group Inc. Acquires 193,511 Shares of GE Aerospace (NYSE:GE)

Baird Financial Group Inc. raised its stake in GE Aerospace (NYSE:GE - Free Report) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,042,562 shares of the company's stock after acquiring an additional 193,511 shares during the period. GE Aerospace makes up about 1.0% of Baird Financial Group Inc.'s portfolio, making the stock its 22nd biggest holding. Baird Financial Group Inc. owned approximately 0.28% of GE Aerospace worth $507,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of GE Aerospace by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the company's stock worth $278,247,000 after buying an additional 973,135 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of GE Aerospace by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the company's stock worth $249,596,000 after purchasing an additional 48,543 shares during the period. CWA Asset Management Group LLC raised its stake in shares of GE Aerospace by 14.0% in the fourth quarter. CWA Asset Management Group LLC now owns 4,828 shares of the company's stock valued at $805,000 after buying an additional 594 shares during the period. Neville Rodie & Shaw Inc. raised its position in shares of GE Aerospace by 1.4% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 84,783 shares of the company's stock valued at $14,141,000 after purchasing an additional 1,201 shares during the period. Finally, Fortem Financial Group LLC boosted its position in shares of GE Aerospace by 2.0% in the fourth quarter. Fortem Financial Group LLC now owns 3,378 shares of the company's stock valued at $563,000 after acquiring an additional 66 shares during the period. 74.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. The trade was a 15.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value 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 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 Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Bank of America increased their target price on GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target for the company. Finally, Northcoast Research raised GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

GE Aerospace Trading Up 2.5 %

Shares of NYSE GE traded up $5.33 during trading on Thursday, hitting $215.25. 3,136,715 shares of the company traded hands, compared to its average volume of 5,351,581. The company has a 50-day moving average price of $194.66 and a 200-day moving average price of $187.47. The firm has a market capitalization of $229.54 billion, a P/E ratio of 35.93, a P/E/G ratio of 2.59 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $216.74.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data 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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio is currently 22.40%.

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.