Garrett Wealth Advisory Group LLC Buys Shares of 1,011 GE Aerospace (NYSE:GE)

Garrett Wealth Advisory Group LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,011 shares of the company's stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sendero Wealth Management LLC raised its holdings in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC grew its stake in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. National Bank of Canada FI grew its stake in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. Global Assets Advisory LLC grew its stake in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Invesco Ltd. grew its stake in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insiders Place Their Bets

In other news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

GE Aerospace Stock Performance

GE opened at $248.91 on Tuesday. The company has a market capitalization of $265.44 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55. The business has a 50 day moving average price of $235.34 and a two-hundred day moving average price of $206.79.

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

GE Aerospace Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Analysts Set New Price Targets

Several research firms recently commented on GE. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Citigroup lowered their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. 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. Finally, UBS Group upped 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. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $223.75.

About GE Aerospace

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.

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