Stenger Family Office LLC increased its stake in GE Aerospace (NYSE:GE – Free Report) by 14.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,750 shares of the company’s stock after purchasing an additional 1,841 shares during the quarter. Stenger Family Office LLC’s holdings in GE Aerospace were worth $4,186,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GE. Vanguard Group Inc. boosted its holdings in shares of GE Aerospace by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 92,731,541 shares of the company’s stock worth $28,564,097,000 after buying an additional 699,364 shares during the period. Auto Owners Insurance Co grew its stake in GE Aerospace by 52,247.5% in the 4th quarter. Auto Owners Insurance Co now owns 65,721,281 shares of the company’s stock valued at $2,024,413,000 after buying an additional 65,595,733 shares during the last quarter. State Street Corp raised its holdings in GE Aerospace by 1.5% in the 4th quarter. State Street Corp now owns 45,240,802 shares of the company’s stock worth $13,951,570,000 after acquiring an additional 663,160 shares during the period. Geode Capital Management LLC raised its holdings in GE Aerospace by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 24,774,942 shares of the company’s stock worth $7,615,200,000 after acquiring an additional 312,880 shares during the period. Finally, Norges Bank bought a new position in GE Aerospace in the 4th quarter worth $4,444,736,000. Institutional investors own 74.77% of the company’s stock.
GE Aerospace Stock Performance
GE opened at $356.30 on Thursday. The stock’s 50 day simple moving average is $327.82 and its 200-day simple moving average is $316.58. The company has a current ratio of 1.01, a quick ratio of 0.70 and a debt-to-equity ratio of 0.99. The stock has a market cap of $371.74 billion, a PE ratio of 43.88, a P/E/G ratio of 3.25 and a beta of 1.35. GE Aerospace has a 1 year low of $246.75 and a 1 year high of $382.97.
GE Aerospace Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Monday, July 6th will be paid a $0.47 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 23.15%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GE. Jefferies Financial Group upped their price target on shares of GE Aerospace from $365.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley dropped their price objective on GE Aerospace from $425.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. UBS Group decreased their target price on GE Aerospace from $357.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Finally, Zacks Research lowered GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.56.
GE Aerospace Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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