Mufg Securities Americas Inc. Invests $2.67 Million in GE Aerospace (NYSE:GE)

Mufg Securities Americas Inc. acquired a new stake in GE Aerospace (NYSE:GE) in the 4th quarter, HoldingsChannel reports. The fund acquired 15,976 shares of the company’s stock, valued at approximately $2,665,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC lifted its stake in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in GE Aerospace in the 4th quarter valued at about $29,000. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm’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 value of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $321,473.34. Following the sale, the senior vice president now directly owns 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% 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 Price Performance

Shares of NYSE GE opened at $221.55 on Wednesday. The business has a fifty day moving average price of $196.07 and a two-hundred day moving average price of $188.48. The stock has a market capitalization of $236.26 billion, a PE ratio of 36.99, 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 has a fifty-two week low of $150.20 and a fifty-two week high of $223.55.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during 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, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their price target 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 raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a report 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 company a “buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.