T. Rowe Price Investment Management Inc. Buys New Shares in GE Aerospace (NYSE:GE)

T. Rowe Price Investment Management Inc. acquired a new position in GE Aerospace (NYSE:GE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 95,690 shares of the company's stock, valued at approximately $15,961,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after purchasing an additional 410,172 shares in the last quarter. FMR LLC raised its stake in shares of GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank bought a new stake in shares of GE Aerospace during the fourth quarter valued at about $2,375,439,000. Finally, Invesco Ltd. raised its stake 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. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on GE shares. UBS Group boosted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup lowered their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their target price on GE Aerospace from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. One research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $216.92.

GE Aerospace Stock Performance

GE traded up $2.09 during trading on Thursday, hitting $203.63. The stock had a trading volume of 1,798,098 shares, compared to its average volume of 5,359,003. The firm has a market cap of $217.15 billion, a PE ratio of 34.01, a P/E/G ratio of 2.59 and a beta of 1.04. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $214.21. 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 company has a 50 day simple moving average of $194.04 and a 200-day simple moving average of $186.92.

GE Aerospace (NYSE:GE - Get Free Report) last issued its 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 business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a $0.36 dividend. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. GE Aerospace's 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.