1,068 Shares in GE Aerospace (NYSE:GE) Purchased by Genesis Wealth Advisors LLC

Genesis Wealth Advisors LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,068 shares of the company's stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. New Age Alpha Advisors LLC raised its stake in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new position in GE Aerospace in the 4th quarter worth approximately $28,000. Copia Wealth Management increased its position in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the period. Finally, First Pacific Financial increased its position in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent research reports. 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 report on Thursday, April 24th. Citigroup restated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus price target of $240.33.

GE Aerospace Price Performance

Shares of NYSE GE traded up $3.21 during mid-day trading on Friday, hitting $263.49. 8,605,410 shares of the stock traded hands, compared to its average volume of 5,648,390. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.80. The company has a market cap of $280.98 billion, a PE ratio of 36.75, a price-to-earnings-growth ratio of 3.05 and a beta of 1.37. The firm has a 50 day simple moving average of $244.37 and a two-hundred day simple moving average of $212.06.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.55%. GE Aerospace's payout ratio is 20.08%.

Insider Transactions at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated 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 directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% 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 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.