Investment Management Corp of Ontario Lowers Position in GE Aerospace $GE

by · The Markets Daily

Investment Management Corp of Ontario reduced its position in shares of GE Aerospace (NYSE:GE – Free Report) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,466 shares of the company’s stock after selling 4,500 shares during the period. Investment Management Corp of Ontario’s holdings in GE Aerospace were worth $14,534,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bare Financial Services Inc lifted its holdings in shares of GE Aerospace by 81.1% in the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock valued at $25,000 after buying an additional 43 shares during the period. IMG Wealth Management Inc. raised its position in GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after acquiring an additional 59 shares in the last quarter. Nova Wealth Management Inc. acquired a new stake in GE Aerospace in the first quarter valued at $29,000. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace in the first quarter valued at $30,000. Finally, Kilter Group LLC purchased a new stake in shares of GE Aerospace during the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 8,000 shares of GE Aerospace stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the sale, the senior vice president owned 150,434 shares in the company, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Monday, October 27th. BNP Paribas Exane began coverage on shares of GE Aerospace in a research report on Tuesday, November 18th. They set an “underperform” rating for the company. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, The Goldman Sachs Group raised their price objective on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Sixteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $304.31.

Read Our Latest Analysis on GE

GE Aerospace Stock Up 1.2%

GE stock opened at $287.33 on Tuesday. The company’s 50 day simple moving average is $300.39 and its 200-day simple moving average is $277.02. The firm has a market capitalization of $303.08 billion, a PE ratio of 38.36, a P/E/G ratio of 2.21 and a beta of 1.40. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76.

GE Aerospace (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.GE Aerospace’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, December 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 19.23%.

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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