GE Aerospace (NYSE:GE) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its position in shares of GE Aerospace (NYSE:GE - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,638,799 shares of the company's stock after selling 3,234,657 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.20% of GE Aerospace worth $3,942,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $29,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $29,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. UBS Group boosted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup reduced their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace Stock Up 0.6 %

Shares of NYSE GE traded up $1.14 during trading on Friday, reaching $198.55. 4,390,590 shares of the stock were exchanged, compared to its average volume of 5,397,810. The company has a market capitalization of $213.10 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The business's 50-day moving average price is $194.36 and its 200 day moving average price is $186.66. 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 twelve month low of $150.20 and a twelve month high of $214.21.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 14.31% and a return on equity of 22.19%. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were issued a $0.36 dividend. The ex-dividend date was Monday, March 10th. This is a boost from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.73%. GE Aerospace's dividend payout ratio is currently 22.40%.

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.