Coastline Trust Co Purchases 2,464 Shares of GE Aerospace (NYSE:GE)

Coastline Trust Co increased its holdings in GE Aerospace (NYSE:GE - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,236 shares of the company's stock after purchasing an additional 2,464 shares during the quarter. Coastline Trust Co's holdings in GE Aerospace were worth $2,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keybank National Association OH boosted its holdings in GE Aerospace by 2.4% in the first quarter. Keybank National Association OH now owns 51,119 shares of the company's stock valued at $10,231,000 after acquiring an additional 1,215 shares during the last quarter. Pictet North America Advisors SA raised its holdings in GE Aerospace by 3.6% during the 1st quarter. Pictet North America Advisors SA now owns 35,769 shares of the company's stock worth $7,159,000 after purchasing an additional 1,241 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $172,000. DAVENPORT & Co LLC boosted its stake in shares of GE Aerospace by 1.8% in the 1st quarter. DAVENPORT & Co LLC now owns 26,704 shares of the company's stock valued at $5,345,000 after purchasing an additional 481 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of GE Aerospace by 3.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 137,539 shares of the company's stock valued at $27,528,000 after purchasing an additional 4,621 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Down 1.7%

NYSE:GE traded down $4.18 on Wednesday, hitting $244.84. The stock had a trading volume of 6,189,467 shares, compared to its average volume of 5,506,893. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $260.55. The business's fifty day moving average is $231.41 and its 200 day moving average is $204.23. The company has a market cap of $261.09 billion, a PE ratio of 38.08, a P/E/G ratio of 3.11 and a beta of 1.37.

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, topping analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. On average, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 0.59%. GE Aerospace's dividend payout ratio is currently 22.40%.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GE. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note 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 boosted their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.