Golden State Wealth Management LLC Increases Stake in GE Aerospace (NYSE:GE)

Golden State Wealth Management LLC boosted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 199.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,515 shares of the company's stock after buying an additional 3,008 shares during the quarter. Golden State Wealth Management LLC's holdings in GE Aerospace were worth $904,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GE. Copia Wealth Management lifted its stake in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. New Age Alpha Advisors LLC lifted its position 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 worth $25,000 after purchasing an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace in the 4th quarter worth approximately $28,000. First Pacific Financial boosted its stake in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new position in GE Aerospace during the fourth quarter valued at approximately $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company upped their target price on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Citigroup reduced their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Northcoast Research lowered shares of 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 company's stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $221.15.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction 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 completion of the transaction, 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 sale 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 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 transaction, the senior vice president now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $3.50 during midday trading on Friday, hitting $254.50. The company had a trading volume of 26,986,431 shares, compared to its average volume of 5,495,057. The company has a fifty day simple moving average of $227.18 and a 200 day simple moving average of $202.19. The stock has a market cap of $271.39 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.03 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $260.45.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $9.06 billion. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

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.