Occudo Quantitative Strategies LP Takes $2.82 Million Position in GE Aerospace (NYSE:GE)

Occudo Quantitative Strategies LP acquired a new stake in shares of GE Aerospace (NYSE:GE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,898 shares of the company’s stock, valued at approximately $2,818,000.

A number of other large investors have also recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp grew its holdings in shares of GE Aerospace by 12.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 50,026 shares of the company’s stock valued at $8,344,000 after buying an additional 5,435 shares during the last quarter. Obermeyer Wealth Partners purchased a new stake in shares of GE Aerospace during the fourth quarter valued at $291,000. Minot DeBlois Advisors LLC purchased a new stake in shares of GE Aerospace during the fourth quarter valued at $47,000. Morse Asset Management Inc grew its holdings in shares of GE Aerospace by 13.6% during the fourth quarter. Morse Asset Management Inc now owns 21,141 shares of the company’s stock valued at $3,526,000 after buying an additional 2,525 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of GE Aerospace by 2.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,497 shares of the company’s stock valued at $18,263,000 after buying an additional 2,843 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. UBS Group boosted their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Bank of America boosted their price objective on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Citigroup decreased their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $218.73 on Tuesday. 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 $219.98. The business has a 50-day moving average price of $195.56 and a 200 day moving average price of $188.25. The firm has a market cap of $233.25 billion, a PE ratio of 36.52, a P/E/G ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last announced its quarterly 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 return on equity of 22.19% and a net margin of 14.31%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio is 22.40%.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now owns 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares of the company’s stock, 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. 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.