Schonfeld Strategic Advisors LLC Lowers Holdings in GE Aerospace (NYSE:GE)

Schonfeld Strategic Advisors LLC lowered its holdings in GE Aerospace (NYSE:GE) by 56.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,118 shares of the company’s stock after selling 3,974 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in GE Aerospace were worth $520,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Johnson & White Wealth Management LLC purchased a new position in shares of GE Aerospace during the fourth quarter worth $733,000. Chung Wu Investment Group LLC acquired a new position in GE Aerospace during the 4th quarter worth about $795,000. National Bank of Canada FI boosted its holdings in 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. National Pension Service grew its position in GE Aerospace by 1.7% in the 4th quarter. National Pension Service now owns 2,254,637 shares of the company’s stock valued at $376,051,000 after acquiring an additional 37,884 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. increased its stake in GE Aerospace by 28.4% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company’s stock worth $4,305,000 after purchasing an additional 5,710 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.2 %

Shares of GE Aerospace stock opened at $214.83 on Friday. 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 fifty day simple moving average of $195.24 and a 200-day simple moving average of $187.91. The stock has a market cap of $229.09 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $216.80.

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, 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 company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently disclosed 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 of this dividend was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.67%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is currently 22.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Wednesday, April 9th. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Bank of America increased their price target on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $216.92.

Insider Activity

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.