Morse Asset Management Inc Purchases 2,908 Shares of GE Aerospace (NYSE:GE)

Morse Asset Management Inc lifted its position in GE Aerospace (NYSE:GE - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,049 shares of the company's stock after purchasing an additional 2,908 shares during the quarter. GE Aerospace comprises approximately 1.2% of Morse Asset Management Inc's portfolio, making the stock its 28th largest holding. Morse Asset Management Inc's holdings in GE Aerospace were worth $4,813,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GE. Ritter Daniher Financial Advisory LLC DE raised its stake in GE Aerospace by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after acquiring an additional 50 shares in the last quarter. Hudock Inc. raised its stake in GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after acquiring an additional 50 shares in the last quarter. First Pacific Financial raised its stake in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. First Heartland Consultants Inc. raised its stake in GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after acquiring an additional 54 shares in the last quarter. Finally, Affinity Wealth Management LLC raised its stake in GE Aerospace by 4.4% during the first quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock worth $264,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on GE. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday. UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wells Fargo & Company upped their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One investment 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 stock has an average rating of "Moderate Buy" and an average price target of $240.33.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

GE Aerospace Stock Down 1.2%

NYSE:GE traded down $3.02 during trading hours on Tuesday, hitting $259.84. 3,370,712 shares of the company traded hands, compared to its average volume of 5,638,263. 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 simple moving average is $244.37 and its 200-day simple moving average is $212.37. GE Aerospace has a one year low of $150.20 and a one year high of $272.80. The company has a market cap of $277.09 billion, a PE ratio of 36.26, a PEG ratio of 3.05 and a beta of 1.37.

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

GE Aerospace Announces Dividend

The company also recently disclosed 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 yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

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.