GE Aerospace (NYSE:GE) Shares Sold by Syon Capital LLC

Syon Capital LLC reduced its position in GE Aerospace (NYSE:GE) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,364 shares of the company’s stock after selling 276 shares during the period. Syon Capital LLC’s holdings in GE Aerospace were worth $1,228,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GE. Norges Bank acquired a new position in GE Aerospace in the 4th quarter valued at $2,375,439,000. Invesco Ltd. increased its stake in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Raymond James Financial Inc. purchased a new position in GE Aerospace during the fourth quarter worth about $194,208,000. Franklin Resources Inc. lifted its position in GE Aerospace by 206.5% in the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the company’s stock valued at $278,247,000 after purchasing an additional 973,135 shares during the period. Finally, FMR LLC boosted its holdings in GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America lifted their price target on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of GE Aerospace from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup decreased their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $203.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Finally, Redburn Atlantic initiated coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.40.

GE Aerospace Stock Performance

Shares of GE stock opened at $193.71 on Thursday. The firm has a market capitalization of $207.90 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a 50 day moving average price of $194.82 and a 200 day moving average price of $186.53. GE Aerospace has a one year low of $150.20 and a one year high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

GE Aerospace (NYSE:GE) last released its quarterly earnings data 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 business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a positive change from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. GE Aerospace’s payout ratio is presently 24.04%.

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.