GE Aerospace (NYSE:GE) Shares Purchased by Mitchell Sinkler & Starr PA

Key Points

• Mitchell Sinkler & Starr PA increased its holdings in GE Aerospace by 17.4% in Q1, owning a total of 12,135 shares worth $2.4 million at the end of the reporting period.
• Several institutional investors, including Sendero Wealth Management LLC and Global Assets Advisory LLC, significantly increased their stakes in GE Aerospace, highlighting strong interest among hedge funds.
• GE Aerospace recently announced a quarterly dividend of $0.36 per share, which corresponds to an annual yield of 0.53%, reflecting a payout ratio of 20.08%.

Mitchell Sinkler & Starr PA increased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 17.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,135 shares of the company's stock after acquiring an additional 1,802 shares during the period. Mitchell Sinkler & Starr PA's holdings in GE Aerospace were worth $2,429,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC raised its holdings 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. acquired a new position in shares of GE Aerospace during the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the 1st quarter worth $28,000. Finally, Copia Wealth Management grew its holdings in shares of GE Aerospace by 14,200.0% during 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. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on GE. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup reiterated 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. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $0.98 on Wednesday, hitting $271.29. 1,603,333 shares of the company's stock were exchanged, compared to its average volume of 6,202,147. The company has a 50-day simple moving average of $249.79 and a 200-day simple moving average of $216.66. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market capitalization of $287.69 billion, a PE ratio of 37.87, a PEG ratio of 3.04 and a beta of 1.37. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $273.80.

GE Aerospace (NYSE:GE - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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