1,050 Shares in GE Aerospace (NYSE:GE) Acquired by Fountainhead AM LLC

Fountainhead AM LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,050 shares of the company's stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of GE Aerospace by 62.2% in the fourth quarter. Proficio Capital Partners LLC now owns 3,327 shares of the company's stock valued at $555,000 after purchasing an additional 1,276 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of GE Aerospace in the fourth quarter valued at $849,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of GE Aerospace in the fourth quarter valued at $347,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Up 1.2%

Shares of NYSE:GE opened at $263.49 on Friday. The company has a 50 day moving average of $244.37 and a 200-day moving average of $212.06. The firm has a market cap of $280.98 billion, a P/E ratio of 36.75, a P/E/G ratio of 3.09 and a beta of 1.37. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.80. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $1.20 EPS. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace's payout ratio is 20.08%.

Analysts Set New Price Targets

GE has been the topic of several recent analyst reports. Wells Fargo & Company upped 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. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday. Citigroup reissued a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada increased their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. Finally, UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $240.33.

Insider Activity

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated 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 transaction, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. The trade was a 26.23% 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.

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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