GE Aerospace (NYSE:GE) Shares Bought by J.P. Marvel Investment Advisors LLC

Key Points

• J.P. Marvel Investment Advisors LLC increased its stake in GE Aerospace by 6.6% during the 1st quarter, now holding 31,330 shares valued at approximately $6.27 million.
• Insider Mohamed Ali sold 1,602 shares at an average price of $200.67, resulting in a 15.39% decrease in his position.
• Analysts have mixed reviews on GE Aerospace, with upgrades from UBS and Citigroup to "buy" ratings, while Northcoast Research downgraded it to "neutral."

J.P. Marvel Investment Advisors LLC increased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 6.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,330 shares of the company's stock after buying an additional 1,947 shares during the quarter. GE Aerospace comprises 1.1% of J.P. Marvel Investment Advisors LLC's investment portfolio, making the stock its 27th biggest holding. J.P. Marvel Investment Advisors LLC's holdings in GE Aerospace were worth $6,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GE. Brighton Jones LLC raised its holdings in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares during the last quarter. American Century Companies Inc. increased its stake in GE Aerospace by 51.8% in the fourth quarter. American Century Companies Inc. now owns 299,935 shares of the company's stock valued at $50,026,000 after purchasing an additional 102,319 shares during the last quarter. Congress Wealth Management LLC DE grew its position in GE Aerospace by 7.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 8,826 shares of the company's stock valued at $1,472,000 after acquiring an additional 591 shares during the period. Finally, Modern Wealth Management LLC grew its position in GE Aerospace by 25.6% during the fourth quarter. Modern Wealth Management LLC now owns 7,456 shares of the company's stock valued at $1,244,000 after acquiring an additional 1,522 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade 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. Company insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 1.2%

Shares of GE Aerospace stock traded up $3.27 on Friday, hitting $271.28. 4,597,132 shares of the company's stock traded hands, compared to its average volume of 7,770,745. The stock has a market cap of $287.67 billion, a P/E ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm's 50-day moving average is $248.37 and its 200 day moving average is $215.00. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $272.83.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $1.20 EPS. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors 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 0.53%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Analysts Set New Price Targets

A number of research firms have issued reports on GE. 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 report on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup reissued a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group boosted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.