GE Aerospace (NYSE:GE) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in GE Aerospace (NYSE:GE - Free Report) by 7.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,214 shares of the company's stock after purchasing an additional 1,601 shares during the period. Pinnacle Associates Ltd.'s holdings in GE Aerospace were worth $4,646,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. boosted its position in shares of GE Aerospace by 15.2% during the first quarter. Maryland Capital Advisors Inc. now owns 561 shares of the company's stock worth $112,000 after buying an additional 74 shares during the period. AE Wealth Management LLC increased its holdings in shares of GE Aerospace by 15.3% in the first quarter. AE Wealth Management LLC now owns 103,426 shares of the company's stock valued at $20,701,000 after buying an additional 13,757 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of GE Aerospace by 3.7% in the first quarter. Wedbush Securities Inc. now owns 13,845 shares of the company's stock valued at $2,771,000 after buying an additional 500 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the first quarter valued at $28,000. Finally, Roundview Capital LLC increased its holdings in shares of GE Aerospace by 10.6% in the first quarter. Roundview Capital LLC now owns 4,070 shares of the company's stock valued at $815,000 after buying an additional 391 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $271.28 on Friday. The company has a market capitalization of $287.67 billion, a PE ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.83. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock's fifty day simple moving average is $248.37 and its 200 day simple moving average is $215.00.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, research analysts predict 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 was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's payout ratio is currently 20.08%.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm'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 $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GE shares. Citigroup reiterated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Royal Bank Of Canada boosted their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

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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