IFM Investors Pty Ltd Purchases 19,774 Shares of GE Aerospace (NYSE:GE)

by · The Cerbat Gem

IFM Investors Pty Ltd grew its holdings in GE Aerospace (NYSE:GE – Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,008 shares of the company’s stock after buying an additional 19,774 shares during the period. IFM Investors Pty Ltd’s holdings in GE Aerospace were worth $40,735,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. New Age Alpha Advisors LLC raised its holdings in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares during the period. O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the first quarter valued at approximately $33,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter worth $28,000. Finally, First Pacific Financial lifted its holdings in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Up 0.8%

GE stock opened at $246.78 on Friday. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $260.55. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The firm has a 50-day simple moving average of $233.42 and a 200-day simple moving average of $205.06. The stock has a market capitalization of $263.16 billion, a P/E ratio of 38.38, a P/E/G ratio of 2.95 and a beta of 1.37.

GE Aerospace (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.58%. GE Aerospace’s payout ratio is 22.40%.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president directly owned 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted 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. Citigroup dropped their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an “outperform” rating in a research report on Tuesday, June 3rd. Finally, UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $223.75.

Read Our Latest Report on GE

GE Aerospace Profile

(Free Report)

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.

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