GE Aerospace (NYSE:GE) Shares Bought by 44 Wealth Management LLC

44 Wealth Management LLC grew its stake in shares of GE Aerospace (NYSE:GE) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,403 shares of the company’s stock after acquiring an additional 480 shares during the period. 44 Wealth Management LLC’s holdings in GE Aerospace were worth $1,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GE. Vanguard Group Inc. raised its holdings in GE Aerospace by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. FMR LLC grew its holdings in GE Aerospace by 1.5% in the fourth 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 during the last quarter. Geode Capital Management LLC increased its position in shares of GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after buying an additional 529,457 shares in the last quarter. Norges Bank acquired a new position in shares of GE Aerospace during the 4th quarter worth $2,375,439,000. Finally, Northern Trust Corp boosted its position in shares of GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock worth $1,675,717,000 after buying an additional 553,104 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

GE Aerospace Stock Performance

NYSE GE opened at $246.78 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55. The firm 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. The business’s 50-day simple moving average is $233.42 and its 200-day simple moving average is $205.06.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 dividend payout ratio (DPR) is presently 22.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GE shares. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Finally, Citigroup cut their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.75.

GE Aerospace Company 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.