Machina Capital S.A.S. Invests $2.67 Million in GE Aerospace (NYSE:GE)

Machina Capital S.A.S. acquired a new position in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,331 shares of the company's stock, valued at approximately $2,668,000.

A number of other hedge funds have also recently added to or reduced their stakes in GE. Pinnacle Associates Ltd. boosted its position in GE Aerospace by 7.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 23,214 shares of the company's stock worth $4,646,000 after buying an additional 1,601 shares during the period. Maryland Capital Advisors Inc. grew its position in shares of GE Aerospace by 15.2% in the 1st quarter. Maryland Capital Advisors Inc. now owns 561 shares of the company's stock valued at $112,000 after buying an additional 74 shares during the last quarter. AE Wealth Management LLC raised its position in shares of GE Aerospace by 15.3% during the first quarter. AE Wealth Management LLC now owns 103,426 shares of the company's stock worth $20,701,000 after acquiring an additional 13,757 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in GE Aerospace by 3.7% in the first quarter. Wedbush Securities Inc. now owns 13,845 shares of the company's stock valued at $2,771,000 after acquiring an additional 500 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the 1st quarter valued at approximately $28,000. Institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the business'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 transaction of $321,473.34. Following the completion of the transaction, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on GE. Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Up 1.2%

Shares of GE Aerospace stock traded up $3.27 during trading hours on Friday, hitting $271.28. The company's stock had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. The business has a fifty day moving average of $248.37 and a 200 day moving average of $215.30. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.83. 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 company has a market capitalization of $287.67 billion, a PE ratio of 37.84, a P/E/G ratio of 3.11 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (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 net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's dividend payout ratio is presently 20.08%.

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.