Alta Wealth Advisors LLC Acquires New Holdings in GE Aerospace (NYSE:GE)

Alta Wealth Advisors LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,090 shares of the company's stock, valued at approximately $218,000.

Several other institutional investors also recently made changes to their positions in GE. Brighton Jones LLC lifted its position in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 150 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in GE Aerospace by 2.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 6,367 shares of the company's stock worth $1,064,000 after purchasing an additional 168 shares during the period. Whipplewood Advisors LLC acquired a new stake in GE Aerospace in the 4th quarter valued at $352,000. Finally, NewEdge Wealth LLC raised its position in GE Aerospace by 5.2% in the fourth quarter. NewEdge Wealth LLC now owns 9,962 shares of the company's stock valued at $1,662,000 after purchasing an additional 488 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $223.75.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on 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 now owns 8,805 shares of the company's stock, valued at approximately $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. 0.21% of the stock is currently owned by company insiders.

GE Aerospace Stock Up 1.1%

NYSE GE traded up $2.87 during trading hours on Monday, reaching $257.38. 4,653,825 shares of the company traded hands, compared to its average volume of 6,128,446. The stock has a market capitalization of $274.47 billion, a PE ratio of 40.03, a PEG ratio of 3.07 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $260.55. The company has a 50 day moving average of $228.63 and a two-hundred day moving average of $203.27.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for 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%. As a group, equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.56%. GE Aerospace's dividend payout ratio is presently 22.40%.

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.