The Manufacturers Life Insurance Company Increases Stock Holdings in GE Aerospace (NYSE:GE)

The Manufacturers Life Insurance Company boosted its position in GE Aerospace (NYSE:GE) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 890,690 shares of the company’s stock after purchasing an additional 13,673 shares during the period. The Manufacturers Life Insurance Company’s holdings in GE Aerospace were worth $148,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of GE Aerospace during the 3rd quarter valued at about $3,400,000. Westside Investment Management Inc. lifted its position in shares of GE Aerospace by 6.0% during the 3rd quarter. Westside Investment Management Inc. now owns 1,245 shares of the company’s stock valued at $235,000 after buying an additional 70 shares in the last quarter. Diamant Asset Management Inc. lifted its position in shares of GE Aerospace by 2.7% during the 3rd quarter. Diamant Asset Management Inc. now owns 6,098 shares of the company’s stock valued at $1,150,000 after buying an additional 158 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of GE Aerospace by 30.2% during the 3rd quarter. Morse Asset Management Inc now owns 18,616 shares of the company’s stock valued at $3,511,000 after buying an additional 4,320 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in shares of GE Aerospace by 1.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the company’s stock valued at $2,308,000 after buying an additional 232 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GE. Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. 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 note on Wednesday, April 23rd. Bank of America raised their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $200.89 on Tuesday. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $214.21. The stock has a market capitalization of $215.61 billion, a P/E ratio of 33.54, a PEG ratio of 2.59 and a beta of 1.04. The firm has a fifty day simple moving average of $194.18 and a two-hundred day simple moving average of $186.72. 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 data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping 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 business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. On average, analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were paid a $0.36 dividend. This is a boost 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 0.72%. The ex-dividend date was Monday, March 10th. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

About GE Aerospace

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.