Kingsman Wealth Management Inc. Purchases New Shares in GE Aerospace (NYSE:GE)

Kingsman Wealth Management Inc. purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,428 shares of the company's stock, valued at approximately $7,892,000. GE Aerospace comprises about 5.8% of Kingsman Wealth Management Inc.'s holdings, making the stock its 5th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace in the fourth quarter valued at $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace in the fourth quarter valued at $28,000. Copia Wealth Management raised 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 valued at $29,000 after buying an additional 142 shares in the last quarter. Finally, First Pacific Financial raised its stake in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday. Citigroup reiterated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $240.33.

GE Aerospace Stock Down 1.3%

GE traded down $3.53 on Tuesday, reaching $259.33. 4,745,464 shares of the company traded hands, compared to its average volume of 5,643,045. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market cap of $276.55 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 3.05 and a beta of 1.37. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $272.80. The stock's 50 day moving average price is $244.37 and its 200-day moving average price is $212.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted 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 company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. On average, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.56%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Insider Activity at GE Aerospace

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