Metis Global Partners LLC Has $11.75 Million Position in GE Aerospace (NYSE:GE)

Key Points

• Metis Global Partners LLC increased its stake in GE Aerospace by 6.6% in Q1, holding approximately $11.75 million worth of shares after acquiring 3,623 additional shares.
• Insider Mohamed Ali sold 1,602 shares of GE Aerospace for over $321,000, reducing his holdings by 15.39% to 8,805 shares.
• GE Aerospace reported a strong Q2 with $10.15 billion in revenue and $1.66 EPS, surpassing analysts' expectations and showing a significant year-over-year revenue increase of 21.2%.

Metis Global Partners LLC boosted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,700 shares of the company's stock after buying an additional 3,623 shares during the quarter. Metis Global Partners LLC's holdings in GE Aerospace were worth $11,749,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the 4th quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace during the first quarter worth $28,000. Finally, Copia Wealth Management increased its holdings 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 purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 1.2%

GE Aerospace stock opened at $271.28 on Friday. The company has a 50 day moving average of $248.37 and a 200-day moving average of $215.30. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.83. The stock has a market capitalization of $287.67 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GE. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday. Finally, Citigroup reissued a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price 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.

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