GE Aerospace (NYSE:GE) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,200 shares of the company's stock after selling 83,420 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in GE Aerospace were worth $21,582,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC lifted its holdings in GE Aerospace by 133.3% in the 4th 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 acquired a new position in shares of GE Aerospace in the fourth quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace during the 4th quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in GE Aerospace during the 4th quarter worth approximately $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at approximately $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE Aerospace stock traded up $1.14 during midday trading on Friday, reaching $198.55. 4,390,590 shares of the stock traded hands, compared to its average volume of 5,399,811. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $194.36 and a two-hundred day moving average price of $186.68. The firm has a market cap of $213.10 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $214.21.

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

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.73%. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace's dividend payout ratio is 22.40%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of GE Aerospace from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada restated an "outperform" rating and set a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday. UBS Group upped their price target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Citigroup lowered 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 note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and an average price target of $216.92.

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.