Adams Diversified Equity Fund Inc. bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 121,100 shares of the company's stock, valued at approximately $24,238,000. GE Aerospace comprises approximately 1.0% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 29th biggest holding.
Other large investors also recently bought and sold shares of the company. Sendero Wealth Management LLC lifted its position in GE Aerospace by 526.6% in 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 last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of GE Aerospace during the fourth quarter worth about $795,000. National Bank of Canada FI lifted its position in shares of 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 worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. National Pension Service lifted its position in shares of GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock worth $376,051,000 after purchasing an additional 37,884 shares in the last quarter. Finally, Global Assets Advisory LLC lifted its position in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on GE shares. Wells Fargo & Company increased their price target 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. UBS Group increased their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup reduced their price target 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, Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.
Check Out Our Latest Stock Analysis on GE Aerospace
Insider Buying and Selling
In other GE Aerospace news, 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 value of $321,473.34. Following the completion of the sale, the senior vice president now owns 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were 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 approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.
GE Aerospace Stock Up 1.4%
GE Aerospace stock traded up $3.50 during mid-day trading on Friday, hitting $254.50. The company had a trading volume of 26,986,431 shares, compared to its average volume of 5,495,058. The stock has a market cap of $271.39 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.03 and a beta of 1.38. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $228.63 and a 200 day moving average of $202.77.
GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. On average, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.
GE Aerospace Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's dividend payout ratio is presently 22.40%.
GE Aerospace Profile
(
Free Report)
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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