AlTi Global Inc. Acquires 2,756 Shares of GE Aerospace (NYSE:GE)

AlTi Global Inc. lifted its stake in GE Aerospace (NYSE:GE) by 49.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,362 shares of the company’s stock after purchasing an additional 2,756 shares during the quarter. AlTi Global Inc.’s holdings in GE Aerospace were worth $1,439,000 at the end of the most recent reporting period.

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

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their position. The transaction was disclosed in a filing 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 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 completion of the sale, the vice president now owns 11,540 shares of the company’s stock, 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 currently owned by corporate insiders.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $207.87 on Friday. The stock has a market cap of $221.67 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 2.59 and a beta of 1.04. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $214.21. The company’s fifty day moving average is $194.31 and its 200 day moving average is $187.08. 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 (NYSE:GE) last issued 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. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a $0.36 dividend. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. GE Aerospace’s dividend payout ratio is currently 22.40%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Wednesday, April 9th. Bank of America upped their price objective 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. UBS Group raised 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. Finally, Citigroup lowered their price target 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.92.

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.