GE Aerospace (NYSE:GE) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. cut its position in shares of GE Aerospace (NYSE:GE - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,619 shares of the company's stock after selling 44,594 shares during the period. Pinebridge Investments L.P.'s holdings in GE Aerospace were worth $10,945,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in GE Aerospace by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the period. FMR LLC grew its stake in GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC increased its position in shares of GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock worth $3,846,587,000 after acquiring an additional 529,457 shares during the period. Norges Bank bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. Finally, Invesco Ltd. boosted its holdings in shares of GE Aerospace by 14.4% in 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 during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.4 %

NYSE:GE traded up $0.78 during mid-day trading on Monday, hitting $199.21. 1,170,675 shares of the company's stock traded hands, compared to its average volume of 5,381,306. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $214.21. The company has a market capitalization of $213.81 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a fifty day moving average of $194.36 and a 200 day moving average of $186.66.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS 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 company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. On average, analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's payout ratio is presently 22.40%.

Analyst Ratings Changes

GE has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price on the stock. Wells Fargo & Company upped their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $216.92.

GE Aerospace Company 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.