Concentric Capital Strategies LP Purchases 28,948 Shares of GE Aerospace (NYSE:GE)

Concentric Capital Strategies LP increased its holdings in GE Aerospace (NYSE:GE - Free Report) by 102.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,097 shares of the company's stock after purchasing an additional 28,948 shares during the quarter. Concentric Capital Strategies LP's holdings in GE Aerospace were worth $9,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC increased its stake in shares of GE Aerospace by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company's stock valued at $39,000 after acquiring an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after purchasing an additional 50 shares during the last quarter. Ballast Advisors LLC boosted its stake in GE Aerospace by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock worth $349,000 after buying an additional 51 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in shares of GE Aerospace by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company's stock valued at $245,000 after acquiring an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its holdings in GE Aerospace by 10.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the company's stock valued at $96,000 after acquiring an additional 55 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Down 0.0 %

NYSE GE opened at $208.92 on Wednesday. GE Aerospace has a one year low of $150.20 and a one year high of $214.21. The stock has a market capitalization of $222.79 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.59 and a beta of 1.31. The business has a 50 day simple moving average of $194.61 and a 200 day simple moving average of $187.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace's previous quarterly dividend of $0.28. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now directly owns 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target 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. Citigroup lowered their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Northcoast Research upgraded GE Aerospace from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. 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 note on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $216.92.

GE Aerospace 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.

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