Concurrent Investment Advisors LLC Boosts Holdings in GE Aerospace (NYSE:GE)

Concurrent Investment Advisors LLC lifted its stake in shares of GE Aerospace (NYSE:GE) by 25.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 41,039 shares of the company’s stock after buying an additional 8,245 shares during the period. Concurrent Investment Advisors LLC’s holdings in GE Aerospace were worth $8,065,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sendero Wealth Management LLC raised its position in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after acquiring an additional 12,613 shares in the last quarter. National Bank of Canada FI raised its holdings in GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company’s stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. Global Assets Advisory LLC raised its holdings in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Invesco Ltd. lifted its position in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in shares of GE Aerospace by 6.8% during the 4th quarter. Baird Financial Group Inc. now owns 3,042,562 shares of the company’s stock valued at $507,469,000 after buying an additional 193,511 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GE. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Citigroup dropped their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.75.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the company’s 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 completion of the sale, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $246.78 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market cap of $263.16 billion, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. The business has a 50-day simple moving average of $234.38 and a two-hundred day simple moving average of $205.62. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $260.55.

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

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace’s payout ratio is 22.40%.

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.