Cary Street Partners Financial LLC Takes Position in GE Aerospace (NYSE:GE)

Cary Street Partners Financial LLC purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,928 shares of the company's stock, valued at approximately $655,000.

A number of other hedge funds have also recently bought and sold shares of GE. Norges Bank bought a new stake in GE Aerospace during the fourth quarter worth $2,375,439,000. Invesco Ltd. grew its holdings in 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 purchasing an additional 1,204,910 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $194,208,000. FMR LLC boosted its stake in shares of GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of GE Aerospace by 11.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after acquiring an additional 781,574 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Up 2.2 %

Shares of NYSE GE opened at $214.64 on Friday. The stock has a market capitalization of $228.89 billion, a P/E ratio of 35.83, a PEG ratio of 2.59 and a beta of 1.31. The stock's fifty day moving average is $194.92 and its 200 day moving average is $187.61. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $216.80. 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 - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were paid a $0.36 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.67%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Insider Buying and Selling at GE Aerospace

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Bank of America raised their target price on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Northcoast Research upgraded shares of GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target on the stock in a research note on Wednesday, April 9th. Redburn Atlantic initiated coverage on shares of GE Aerospace in a research report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Citigroup lowered their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.92.

About GE Aerospace

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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