North Forty Two & Co. Purchases Shares of 1,074 GE Aerospace (NYSE:GE)

North Forty Two & Co. acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,074 shares of the company's stock, valued at approximately $215,000.

Several other institutional investors have also modified their holdings of GE. Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $203,000. Sendero Wealth Management LLC raised its position in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the period. National Bank of Canada FI grew its position in GE Aerospace by 2.9% during the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares during the last quarter. Finally, Global Assets Advisory LLC grew its position in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GE. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Citigroup restated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.33.

GE Aerospace Trading Up 1.2%

GE Aerospace stock opened at $263.49 on Friday. The stock has a market cap of $280.98 billion, a PE ratio of 36.75, a P/E/G ratio of 3.09 and a beta of 1.37. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $244.37 and a 200 day moving average price of $212.06. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $272.80.

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

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.55%. GE Aerospace's dividend payout ratio 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.

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