Voya Investment Management LLC Reduces Holdings in GE Aerospace (NYSE:GE)

Voya Investment Management LLC decreased its holdings in shares of GE Aerospace (NYSE:GE) by 29.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,747,813 shares of the company’s stock after selling 745,862 shares during the quarter. Voya Investment Management LLC owned about 0.16% of GE Aerospace worth $291,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Johnson & White Wealth Management LLC purchased a new position in GE Aerospace in the 4th quarter worth approximately $733,000. Chung Wu Investment Group LLC purchased a new stake in GE Aerospace in the 4th quarter valued at $795,000. National Bank of Canada FI increased its stake in shares of GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after acquiring an additional 29,844 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of GE Aerospace by 60.7% during the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the company’s stock worth $2,576,000 after acquiring an additional 5,162 shares during the period. Finally, National Pension Service grew its holdings in shares of GE Aerospace by 1.7% in the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after purchasing an additional 37,884 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 2.4 %

Shares of GE Aerospace stock opened at $193.71 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $207.90 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $214.21. The company’s 50-day simple moving average is $194.82 and its 200-day simple moving average is $186.53.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, March 10th. GE Aerospace’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 note on Thursday, January 2nd. Bank of America upped their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $213.40.

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.