Dover Advisors LLC Invests $533,000 in GE Aerospace (NYSE:GE)

Dover Advisors LLC purchased a new position in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,656 shares of the company's stock, valued at approximately $533,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GE. Truvestments Capital LLC raised its holdings in GE Aerospace by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company's stock worth $39,000 after purchasing an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC lifted its holdings in shares of GE Aerospace by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock worth $349,000 after acquiring an additional 51 shares during the period. Blue Barn Wealth LLC boosted its holdings in shares of GE Aerospace by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company's stock valued at $245,000 after purchasing an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. grew its position in GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after acquiring an additional 54 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Redburn Atlantic assumed coverage on GE Aerospace in a research note on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective on the stock. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Northcoast Research cut 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 eleven have assigned a buy rating to the stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $221.15.

GE Aerospace Price Performance

NYSE GE traded down $3.92 during trading on Friday, reaching $236.07. 7,408,374 shares of the company traded hands, compared to its average volume of 5,424,079. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock's 50 day moving average price is $216.42 and its two-hundred day moving average price is $198.36. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $257.47. The company has a market cap of $251.74 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.