Lord Abbett & CO. LLC Purchases 446,689 Shares of GE Aerospace (NYSE:GE)

Lord Abbett & CO. LLC raised its position in shares of GE Aerospace (NYSE:GE) by 188.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 683,858 shares of the company’s stock after acquiring an additional 446,689 shares during the quarter. Lord Abbett & CO. LLC owned about 0.06% of GE Aerospace worth $114,061,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Johnson & White Wealth Management LLC acquired a new stake in GE Aerospace during the fourth quarter worth approximately $733,000. Chung Wu Investment Group LLC acquired a new stake in shares of GE Aerospace during the 4th quarter worth approximately $795,000. National Bank of Canada FI lifted its position in shares of GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock valued at $177,535,000 after acquiring an additional 29,844 shares during the period. World Investment Advisors LLC lifted its position 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 valued at $2,576,000 after acquiring an additional 5,162 shares during the period. Finally, National Pension Service boosted its stake in GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after acquiring an additional 37,884 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a report on Wednesday. JPMorgan Chase & Co. upped their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Wednesday, April 9th. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $197.40 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a 50-day moving average of $194.59 and a 200-day moving average of $186.61. GE Aerospace has a one year low of $150.20 and a one year high of $214.21. The company has a market cap of $211.87 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS 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 analyst estimates of $9.06 billion. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.73%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is currently 22.40%.

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.