Banque Pictet & Cie SA Purchases 2,171 Shares of GE Aerospace (NYSE:GE)

Banque Pictet & Cie SA grew its position in shares of GE Aerospace (NYSE:GE - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,655 shares of the company's stock after purchasing an additional 2,171 shares during the period. Banque Pictet & Cie SA's holdings in GE Aerospace were worth $1,732,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC increased its holdings in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after buying an additional 8,245 shares during the period. National Bank of Canada FI increased its holdings in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after buying an additional 29,844 shares during the period. Global Assets Advisory LLC increased its holdings in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after buying an additional 9,580 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the period. Institutional investors own 74.77% of the company's stock.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the business's 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 completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business'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 sale, the vice president directly 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 position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 1.2%

GE stock traded up $3.01 during midday trading on Friday, hitting $255.58. The company's stock had a trading volume of 4,297,124 shares, compared to its average volume of 6,110,866. The company has a market cap of $272.55 billion, a PE ratio of 39.75, a P/E/G 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. 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's 50-day moving average is $238.22 and its 200-day moving average is $207.94.

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. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.56%. GE Aerospace's payout ratio is currently 22.40%.

Analysts Set New Price Targets

A number of research analysts have commented on GE shares. 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 target on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company upped their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.