Lord Abbett & CO. LLC Raises Position in GE Aerospace (NYSE:GE)

Lord Abbett & CO. LLC boosted its position in GE Aerospace (NYSE:GE) by 188.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 683,858 shares of the company’s stock after purchasing an additional 446,689 shares during the period. Lord Abbett & CO. LLC’s holdings in GE Aerospace were worth $114,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC lifted its position in shares of GE Aerospace by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock valued at $39,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock worth $56,000 after purchasing an additional 50 shares in the last quarter. Ballast Advisors LLC raised its position in shares of GE Aerospace by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock valued at $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC lifted its stake in shares of GE Aerospace by 3.8% during the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock valued at $245,000 after buying an additional 54 shares in the last quarter. Finally, Game Plan Financial Advisors LLC boosted its holdings in GE Aerospace by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the company’s stock worth $96,000 after buying an additional 55 shares during the period. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Bank of America raised their price target on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday. Finally, Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Stock Up 1.9 %

Shares of NYSE GE opened at $197.40 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. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $214.21. The firm’s 50-day moving average price is $194.59 and its 200-day moving average price is $186.61. The stock has a market capitalization of $211.87 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 2.59 and a beta of 1.04.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts anticipate 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 will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.73%. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. GE Aerospace’s payout ratio is presently 22.40%.

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.