Mufg Securities Americas Inc. Takes $2.67 Million Position in GE Aerospace (NYSE:GE)

Mufg Securities Americas Inc. purchased a new position in shares of GE Aerospace (NYSE:GE) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,976 shares of the company’s stock, valued at approximately $2,665,000.

A number of other hedge funds have also recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC lifted its stake in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares during the period. Hager Investment Management Services LLC bought a new stake in GE Aerospace during the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new position in shares of GE Aerospace in the 4th quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of GE Aerospace in the 4th quarter valued at about $29,000. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

NYSE GE opened at $221.55 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $236.26 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.59 and a beta of 1.31. The business has a 50 day simple moving average of $196.07 and a 200 day simple moving average of $188.48. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $223.55.

GE Aerospace (NYSE:GE) last released 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 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 analysts’ expectations of $9.06 billion. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace’s payout ratio is 22.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GE shares. Bank of America boosted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group upped their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. 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. Finally, Citigroup dropped 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 investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.