Gotham Asset Management LLC Has $22.28 Million Stock Holdings in GE Aerospace (NYSE:GE)

Gotham Asset Management LLC reduced its holdings in shares of GE Aerospace (NYSE:GE) by 20.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,555 shares of the company’s stock after selling 34,525 shares during the period. Gotham Asset Management LLC’s holdings in GE Aerospace were worth $22,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC bought a new stake in shares of GE Aerospace in the 4th quarter worth about $733,000. Chung Wu Investment Group LLC acquired a new position in GE Aerospace in the fourth quarter valued at about $795,000. National Bank of Canada FI grew its stake in GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after buying an additional 29,844 shares during the last quarter. National Pension Service increased its holdings in shares of GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company’s stock worth $376,051,000 after buying an additional 37,884 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its stake in shares of GE Aerospace by 28.4% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 25,808 shares of the company’s stock valued at $4,305,000 after acquiring an additional 5,710 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the company’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 completion of the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated 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 sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $214.83 on Friday. The firm’s 50 day simple moving average is $195.24 and its 200 day simple moving average is $187.87. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $216.80. The company has a market capitalization of $229.09 billion, a price-to-earnings ratio of 35.86, a P/E/G 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 announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The company 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%. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.67%. 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. GE Aerospace’s payout ratio is 22.40%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Bank of America upped their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.