Occudo Quantitative Strategies LP Makes New Investment in GE Aerospace (NYSE:GE)

Occudo Quantitative Strategies LP purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,898 shares of the company's stock, valued at approximately $2,818,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of GE Aerospace during the fourth quarter valued at about $2,375,439,000. Janus Henderson Group PLC grew its position in shares of GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. grew its position in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of GE Aerospace during the fourth quarter valued at about $194,208,000. Finally, FMR LLC lifted its holdings in shares of GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $218.73 on Tuesday. The company has a 50 day moving average price of $195.56 and a 200-day moving average price of $188.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $219.98. The company has a market capitalization of $233.25 billion, a PE ratio of 36.52, a P/E/G ratio of 2.59 and a beta of 1.31.

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 for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a $0.36 dividend. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.66%. GE Aerospace's payout ratio is 22.40%.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents 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 Ratings Changes

GE has been the subject of a number of analyst reports. Northcoast Research raised shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a report on Wednesday, April 9th. Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Citigroup lowered their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus 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.

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