RWQ Financial Management Services Inc. Purchases New Shares in GE Aerospace (NYSE:GE)

RWQ Financial Management Services Inc. bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,075 shares of the company's stock, valued at approximately $6,620,000. GE Aerospace comprises approximately 4.4% of RWQ Financial Management Services Inc.'s investment portfolio, making the stock its 11th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rainey & Randall Wealth Advisors Inc. bought a new position in GE Aerospace during the first quarter valued at about $203,000. Sendero Wealth Management LLC grew its position in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC grew its position in GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after buying an additional 8,245 shares during the period. National Bank of Canada FI grew its position in GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after buying an additional 29,844 shares during the period. Finally, Global Assets Advisory LLC grew its position in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after buying an additional 9,580 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

GE has been the subject of several research reports. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday. 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 research report on Friday. 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 research report on Friday. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $240.33.

Insider Activity at GE Aerospace

In other GE Aerospace news, 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 transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred 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 transaction, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents 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.

GE Aerospace Price Performance

GE Aerospace stock traded up $3.21 during mid-day trading on Friday, hitting $263.49. 8,605,410 shares of the company traded hands, compared to its average volume of 5,646,120. GE Aerospace has a one year low of $150.20 and a one year high of $272.80. The stock has a market cap of $280.98 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 3.19 and a beta of 1.37. 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 stock has a fifty day moving average price of $243.40 and a 200-day moving average price of $211.08.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company's revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) 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.