Night Owl Capital Management LLC Purchases 4,571 Shares of GE Aerospace (NYSE:GE)

Night Owl Capital Management LLC increased its holdings in GE Aerospace (NYSE:GE) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 141,303 shares of the company’s stock after buying an additional 4,571 shares during the period. GE Aerospace makes up approximately 3.0% of Night Owl Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Night Owl Capital Management LLC’s holdings in GE Aerospace were worth $23,568,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. NorthRock Partners LLC increased its position in GE Aerospace by 135.5% during the 4th quarter. NorthRock Partners LLC now owns 12,995 shares of the company’s stock valued at $2,167,000 after purchasing an additional 7,477 shares during the period. Northeast Financial Consultants Inc boosted its stake in shares of GE Aerospace by 28.1% during the 4th quarter. Northeast Financial Consultants Inc now owns 1,608 shares of the company’s stock valued at $268,000 after purchasing an additional 353 shares in the last quarter. Numerai GP LLC purchased a new position in shares of GE Aerospace during the fourth quarter valued at about $212,000. Nuveen Asset Management LLC raised its stake in GE Aerospace by 32.1% in the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company’s stock worth $576,034,000 after buying an additional 838,954 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in GE Aerospace in the fourth quarter worth about $2,818,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 8,805 shares in the company, 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 legal filing with the SEC, which is available through this link. 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $221.55 on Wednesday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $223.55. The firm’s 50-day moving average is $196.07 and its 200 day moving average is $188.48. 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 company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on GE shares. JPMorgan Chase & Co. upped their target price on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Bank of America upped their price target on GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a report on Wednesday, April 23rd. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, April 9th. Finally, UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $216.92.

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.