Allworth Financial LP Grows Stock Position in GE Aerospace (NYSE:GE)

Allworth Financial LP raised its position in GE Aerospace (NYSE:GE - Free Report) by 132.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,557 shares of the company's stock after purchasing an additional 33,375 shares during the quarter. Allworth Financial LP's holdings in GE Aerospace were worth $11,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Brighton Jones LLC raised its position in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its position in 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 raised its position in 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. Moran Wealth Management LLC increased its position in shares of GE Aerospace by 5.4% during the fourth quarter. Moran Wealth Management LLC now owns 1,360 shares of the company's stock worth $227,000 after acquiring an additional 70 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of GE Aerospace by 28.2% during the fourth quarter. Citizens Financial Group Inc. RI now owns 11,048 shares of the company's stock worth $1,843,000 after acquiring an additional 2,431 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction 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 owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company's stock in a transaction 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 completion of the transaction, the vice president owned 11,540 shares of the company's stock, valued at $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 Performance

Shares of GE stock opened at $252.59 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average price of $238.22 and a 200 day moving average price of $207.94. The company has a market cap of $269.36 billion, a P/E ratio of 39.28, a PEG ratio of 3.02 and a beta of 1.37. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.57%. GE Aerospace's dividend payout ratio is presently 22.40%.

Wall Street Analysts Forecast Growth

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

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.