Schonfeld Strategic Advisors LLC Cuts Holdings in GE Aerospace (NYSE:GE)

Schonfeld Strategic Advisors LLC cut its holdings in GE Aerospace (NYSE:GE) by 56.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,118 shares of the company’s stock after selling 3,974 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in GE Aerospace were worth $520,000 at the end of the most recent reporting period.

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

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $214.83 on Friday. The business’s fifty day moving average price is $195.24 and its 200 day moving average price is $187.91. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $216.80. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $229.09 billion, a P/E ratio of 35.86, a PEG ratio of 2.59 and a beta of 1.31.

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, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis 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 currently 22.40%.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on GE Aerospace from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Northcoast Research upgraded GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, April 9th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. 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. Finally, Bank of America raised their target price 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. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Transactions at GE Aerospace

In other 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 in the company, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s 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 sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $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. Company insiders own 0.21% of the company’s stock.

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.