Consolidated Capital Management LLC Lowers Stake in GE Aerospace (NYSE:GE)

Consolidated Capital Management LLC decreased its position in GE Aerospace (NYSE:GE - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,426 shares of the company's stock after selling 3,623 shares during the period. GE Aerospace makes up 2.9% of Consolidated Capital Management LLC's holdings, making the stock its 13th biggest holding. Consolidated Capital Management LLC's holdings in GE Aerospace were worth $6,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Highview Capital Management LLC DE raised its holdings in shares of GE Aerospace by 1.9% during the first quarter. Highview Capital Management LLC DE now owns 6,352 shares of the company's stock valued at $1,271,000 after purchasing an additional 116 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of GE Aerospace by 12.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,015 shares of the company's stock valued at $1,206,000 after purchasing an additional 647 shares during the period. Alpha Cubed Investments LLC raised its holdings in shares of GE Aerospace by 169.3% during the first quarter. Alpha Cubed Investments LLC now owns 5,109 shares of the company's stock valued at $1,023,000 after purchasing an additional 3,212 shares during the period. Horst & Graben Wealth Management LLC acquired a new position in shares of GE Aerospace during the first quarter valued at about $250,000. Finally, Capital Management Associates Inc raised its holdings in shares of GE Aerospace by 68.8% during the first quarter. Capital Management Associates Inc now owns 3,902 shares of the company's stock valued at $781,000 after purchasing an additional 1,591 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE stock traded down $1.54 during trading on Tuesday, reaching $247.11. 5,974,468 shares of the company's stock traded hands, compared to its average volume of 5,514,721. The company has a market capitalization of $263.52 billion, a P/E ratio of 38.43, a PEG ratio of 2.98 and a beta of 1.37. 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 $235.34 and its 200 day moving average is $206.79. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's payout ratio is currently 22.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted 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. Citigroup decreased their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. UBS Group boosted their target price 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. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Finally, Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $223.75.

Insider Activity at GE Aerospace

In other news, 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 completion of the transaction, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction 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 owned 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

GE Aerospace Company 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.