Navigoe LLC Acquires New Holdings in GE Aerospace (NYSE:GE)

Navigoe LLC bought a new position in GE Aerospace (NYSE:GE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 337 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds also recently modified their holdings of GE. Johnson & White Wealth Management LLC acquired a new position in GE Aerospace during the fourth quarter valued at approximately $733,000. Chung Wu Investment Group LLC bought a new stake in shares of GE Aerospace during the 4th quarter worth $795,000. National Bank of Canada FI grew its stake in 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 valued at $177,535,000 after buying an additional 29,844 shares during the last quarter. World Investment Advisors LLC raised its holdings in GE Aerospace by 60.7% in 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 lifted its position in GE Aerospace by 1.7% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

NYSE GE opened at $200.56 on Wednesday. The stock has a market cap of $213.87 billion, a P/E ratio of 33.48, a PEG ratio of 2.59 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $214.21. The company’s 50-day simple moving average is $194.01 and its 200 day simple moving average is $186.82.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The business 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, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost 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 0.72%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective 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 target on the stock in a research report on Wednesday, April 9th. Bank of America increased their price objective on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was a 26.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

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.