GE Aerospace (NYSE:GE) Shares Purchased by Global Assets Advisory LLC

Global Assets Advisory LLC raised its stake in GE Aerospace (NYSE:GE - Free Report) by 186.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,710 shares of the company's stock after purchasing an additional 9,580 shares during the quarter. Global Assets Advisory LLC's holdings in GE Aerospace were worth $2,751,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of GE Aerospace in the 4th quarter valued at $2,375,439,000. GAMMA Investing LLC raised its stake in shares of GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Janus Henderson Group PLC raised its stake in shares of GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the period. Invesco Ltd. raised its stake in shares of GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of GE Aerospace in the 4th quarter valued at $194,208,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Up 1.4%

Shares of GE stock traded up $3.50 during trading hours on Friday, hitting $254.50. 26,986,431 shares of the company were exchanged, compared to its average volume of 5,495,058. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a one year low of $150.20 and a one year high of $260.55. The business's 50-day simple moving average is $228.63 and its two-hundred day simple moving average is $202.77. The stock has a market capitalization of $271.39 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 3.03 and a beta of 1.38.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Sell-side analysts predict 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. Stockholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GE shares. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group lifted their price target on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. Finally, Citigroup dropped their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insider Activity

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business'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 transaction, the vice president now directly owns 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the business'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 now directly owns 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.